Caisse DE Depot ET Placement DU Quebec Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Caisse DE Depot ET Placement DU Quebec lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 76.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,598,125 shares of the network equipment provider’s stock after selling 8,380,405 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.07% of Cisco Systems worth $138,272,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the second quarter worth approximately $25,000. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Quarry LP raised its stake in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the 3rd quarter worth $40,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the second quarter valued at $36,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.1 %

CSCO stock opened at $59.21 on Friday. 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 business’s 50-day moving average is $55.83 and its 200 day moving average is $50.52. The stock has a market cap of $235.82 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 4.42 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.87.

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

Cisco Systems Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction 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. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CSCO shares. UBS Group increased their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Rosenblatt Securities increased their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company raised their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI raised their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

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.