Cisco Systems, Inc. (NASDAQ:CSCO) Stake Cut by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 95.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,439 shares of the network equipment provider’s stock after selling 138,638 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Cisco Systems were worth $343,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after purchasing an additional 1,677,383 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 in the last quarter. Legal & General Group Plc grew its holdings in shares of Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cisco Systems by 22.5% in 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 acquiring an additional 4,843,146 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Cisco Systems by 0.9% during the second quarter. Raymond James & Associates now owns 13,305,175 shares of the network equipment provider’s stock worth $632,129,000 after acquiring an additional 117,351 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 339,479 shares of company stock valued at $19,490,991 over the last quarter. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several research reports. Wells Fargo & Company upped their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Tigress Financial lifted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Trading Down 0.5 %

Cisco Systems stock opened at $59.29 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.87. The stock has a market cap of $236.14 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 4.38 and a beta of 0.83. The business has a 50 day moving average price of $55.68 and a two-hundred day moving average price of $50.45. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period in the prior year, the company posted $0.98 earnings per share. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.