Cisco Systems, Inc. (NASDAQ:CSCO) Position Trimmed by Hemenway Trust Co LLC

Hemenway Trust Co LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,228 shares of the network equipment provider’s stock after selling 1,460 shares during the period. Hemenway Trust Co LLC’s holdings in Cisco Systems were worth $278,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. China Universal Asset Management Co. Ltd. increased its stake in Cisco Systems by 226.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after purchasing an additional 18,339 shares during the last quarter. Cozad Asset Management Inc. increased its stake in Cisco Systems by 1.8% during the first quarter. Cozad Asset Management Inc. now owns 22,886 shares of the network equipment provider’s stock valued at $1,142,000 after purchasing an additional 400 shares during the last quarter. Entropy Technologies LP bought a new stake in Cisco Systems during the first quarter valued at $4,390,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Cisco Systems by 5.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,528,916 shares of the network equipment provider’s stock valued at $176,128,000 after purchasing an additional 171,411 shares during the last quarter. Finally, Rogco LP grew its position in shares of Cisco Systems by 1.3% during the first quarter. Rogco LP now owns 27,492 shares of the network equipment provider’s stock worth $1,372,000 after acquiring an additional 355 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded up $0.13 during trading on Tuesday, hitting $58.76. The company had a trading volume of 490,018 shares, compared to its average volume of 18,884,896. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The business’s 50-day moving average is $53.46 and its 200 day moving average is $49.49. The company has a market cap of $234.50 billion, a P/E ratio of 23.08, a PEG ratio of 4.81 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the company’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 transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on CSCO shares. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Evercore ISI upped their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Barclays lowered their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.32.

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.