Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lowered by Modera Wealth Management LLC

Modera Wealth Management LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 853,125 shares of the network equipment provider’s stock after selling 9,746 shares during the period. Modera Wealth Management LLC’s holdings in Cisco Systems were worth $45,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Cisco Systems by 2.7% in 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 purchasing an additional 1,853,598 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Cisco Systems by 3.3% in the second 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Cisco Systems by 22.5% during the 2nd 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 in the last quarter. Swedbank AB bought a new position in shares of Cisco Systems in the 1st quarter valued at approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after acquiring an additional 2,906,357 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.4 %

CSCO stock opened at $55.74 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $52.12 and its 200-day moving average is $48.86. The firm has a market cap of $224.57 billion, a P/E ratio of 18.77, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analyst Ratings Changes

Several brokerages have commented on CSCO. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Jefferies Financial Group decreased their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.74.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by insiders.

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 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.