Advisors Asset Management Inc. Sells 10,952 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Advisors Asset Management Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 748,852 shares of the network equipment provider’s stock after selling 10,952 shares during the quarter. Cisco Systems makes up about 0.7% of Advisors Asset Management Inc.’s holdings, making the stock its 13th biggest position. Advisors Asset Management Inc.’s holdings in Cisco Systems were worth $39,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. R. W. Roge & Company Inc. acquired a new stake in Cisco Systems in the 3rd quarter worth approximately $211,000. Jennison Associates LLC lifted its stake in shares of Cisco Systems by 4.4% in the third quarter. Jennison Associates LLC now owns 3,547,956 shares of the network equipment provider’s stock worth $188,822,000 after buying an additional 150,539 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Cisco Systems during the 3rd quarter worth $1,529,000. West Family Investments Inc. raised its holdings in Cisco Systems by 1.8% in the 3rd quarter. West Family Investments Inc. now owns 24,372 shares of the network equipment provider’s stock worth $1,297,000 after acquiring an additional 428 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Cisco Systems during the 3rd quarter worth $38,033,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CSCO. Jefferies Financial Group cut 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. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Barclays raised their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Evercore ISI lifted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,628 shares of company stock valued at $18,449,561. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Down 0.5 %

CSCO opened at $57.01 on Wednesday. The firm has a 50 day simple moving average of $54.52 and a 200 day simple moving average of $49.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The company has a market cap of $227.51 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 4.67 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The firm’s revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Cisco Systems Company Profile

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.