Cisco Systems, Inc. (CSCO) Holdings Trimmed by Pitcairn Co.

Pitcairn Co. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,528 shares of the network equipment provider’s stock after selling 1,561 shares during the quarter. Pitcairn Co.’s holdings in Cisco Systems were worth $926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. City Holding Co. boosted its holdings in shares of Cisco Systems by 0.5% during the second quarter. City Holding Co. now owns 88,063 shares of the network equipment provider’s stock worth $2,755,000 after acquiring an additional 425 shares during the period. Koshinski Asset Management Inc. boosted its holdings in shares of Cisco Systems by 12.8% during the second quarter. Koshinski Asset Management Inc. now owns 41,952 shares of the network equipment provider’s stock worth $1,313,000 after acquiring an additional 4,765 shares during the period. Alta Capital Management LLC boosted its holdings in shares of Cisco Systems by 3.2% during the second quarter. Alta Capital Management LLC now owns 44,784 shares of the network equipment provider’s stock worth $1,401,000 after acquiring an additional 1,409 shares during the period. Dynamic Advisors Solutions LLC boosted its holdings in shares of Cisco Systems by 10.9% during the second quarter. Dynamic Advisors Solutions LLC now owns 23,897 shares of the network equipment provider’s stock worth $748,000 after acquiring an additional 2,344 shares during the period. Finally, Atria Investments LLC boosted its holdings in shares of Cisco Systems by 12.6% during the second quarter. Atria Investments LLC now owns 162,295 shares of the network equipment provider’s stock worth $5,080,000 after acquiring an additional 18,105 shares during the period. 75.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $41.29 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The stock has a market capitalization of $204,122.16, a P/E ratio of 19.03, a P/E/G ratio of 3.73 and a beta of 1.20. Cisco Systems, Inc. has a 12 month low of $30.00 and a 12 month high of $41.52.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. research analysts predict that Cisco Systems, Inc. will post 2.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, January 4th. Cisco Systems’s payout ratio is presently 60.10%.

In other Cisco Systems news, SVP Rebecca Jacoby sold 75,021 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the sale, the senior vice president now directly owns 257,476 shares in the company, valued at $9,892,227.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Prat Bhatt sold 2,606 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the sale, the chief accounting officer now owns 89,184 shares of the company’s stock, valued at $3,254,324.16. The disclosure for this sale can be found here. Insiders have sold 348,643 shares of company stock valued at $12,892,271 over the last 90 days. Corporate insiders own 0.05% of the company’s stock.

A number of brokerages have recently issued reports on CSCO. KeyCorp restated an “overweight” rating and set a $43.00 price objective (up previously from $39.00) on shares of Cisco Systems in a report on Friday. BMO Capital Markets restated a “hold” rating and set a $32.00 price objective on shares of Cisco Systems in a report on Thursday, September 28th. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 price objective for the company. in a report on Monday, September 25th. Piper Jaffray Companies restated an “overweight” rating and set a $44.00 price objective on shares of Cisco Systems in a report on Wednesday, January 10th. Finally, Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday. Thirteen research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $38.80.

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About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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