Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Commerzbank Aktiengesellschaft FI

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Commerzbank Aktiengesellschaft FI trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 49.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 886,122 shares of the network equipment provider’s stock after selling 879,067 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Cisco Systems were worth $42,498,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its holdings in Cisco Systems by 1,546.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after purchasing an additional 45,351,980 shares in the last quarter. First Trust Advisors LP increased its holdings in Cisco Systems by 155.6% in the 3rd quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock valued at $862,012,000 after purchasing an additional 10,621,798 shares in the last quarter. Parnassus Investments CA acquired a new stake in Cisco Systems in the 3rd quarter valued at $444,882,000. Massachusetts Financial Services Co. MA increased its holdings in Cisco Systems by 13.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,589,214 shares of the network equipment provider’s stock valued at $1,066,724,000 after purchasing an additional 2,496,113 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Cisco Systems by 13.2% in the 3rd quarter. California Public Employees Retirement System now owns 15,745,642 shares of the network equipment provider’s stock valued at $777,992,000 after purchasing an additional 1,836,457 shares in the last quarter. Institutional investors and hedge funds own 72.55% of the company’s stock.

Shares of Cisco Systems stock opened at $49.02 on Friday. The business has a 50-day moving average of $46.60 and a 200-day moving average of $49.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64. The company has a market capitalization of $208.08 billion, a PE ratio of 19.53, a P/E/G ratio of 2.85 and a beta of 1.23. Cisco Systems, Inc. has a 1-year low of $43.40 and a 1-year high of $58.26.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $13.16 billion during the quarter, compared to the consensus estimate of $13.09 billion. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The company’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.75 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 2.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.40 annualized dividend and a dividend yield of 2.86%. Cisco Systems’s payout ratio is 49.12%.

In other news, EVP Irving Tan sold 10,733 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $44.81, for a total transaction of $480,945.73. Following the transaction, the executive vice president now owns 172,199 shares of the company’s stock, valued at $7,716,237.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 12,597 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $44.81, for a total transaction of $564,471.57. The disclosure for this sale can be found here. Insiders have sold 388,864 shares of company stock worth $17,474,321 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Several brokerages recently issued reports on CSCO. Royal Bank of Canada set a $56.00 price target on Cisco Systems and gave the company a “buy” rating in a report on Wednesday, November 13th. Credit Suisse Group set a $46.00 price target on Cisco Systems and gave the company a “neutral” rating in a report on Thursday, November 14th. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $50.00 price target for the company in a report on Wednesday. KeyCorp lowered their price target on Cisco Systems from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Goldman Sachs Group set a $48.00 price target on Cisco Systems and gave the company a “neutral” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $54.69.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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