Ellis Investment Partners LLC Has $400,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Ellis Investment Partners LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 41.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,520 shares of the network equipment provider’s stock after selling 5,404 shares during the period. Ellis Investment Partners LLC’s holdings in Cisco Systems were worth $400,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after acquiring an additional 1,853,598 shares during the period. Legal & General Group Plc lifted its position in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after purchasing an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP grew its stake in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Swedbank AB bought a new position in Cisco Systems in the 1st quarter valued at about $840,538,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after buying an additional 2,906,357 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Rosenblatt Securities increased their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Tigress Financial boosted their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Trading Down 0.4 %

Shares of CSCO stock traded down $0.22 on Friday, hitting $55.74. The company had a trading volume of 14,680,466 shares, compared to its average volume of 19,091,068. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market cap of $224.57 billion, a P/E ratio of 18.77, a P/E/G ratio of 4.22 and a beta of 0.83. The stock’s 50-day moving average is $52.12 and its two-hundred day moving average is $48.86.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last ninety days. 0.02% of the stock is owned by company insiders.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.