International Assets Investment Management LLC Sells 2,052,906 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

International Assets Investment Management LLC lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 98.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,463 shares of the network equipment provider’s stock after selling 2,052,906 shares during the period. International Assets Investment Management LLC’s holdings in Cisco Systems were worth $2,037,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. Geode Capital Management LLC lifted its stake in Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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. FMR LLC grew its stake in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after buying an additional 1,530,468 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.5 %

Shares of NASDAQ CSCO opened at $59.20 on Thursday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23. The firm’s 50-day moving average is $58.51 and its 200-day moving average is $52.97. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $235.78 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Analyst Ratings Changes

A number of brokerages have weighed in on CSCO. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Evercore ISI increased their target price 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. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Morgan Stanley upped their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.28.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the transaction, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently 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.