Gulf International Bank UK Ltd Sells 13,989 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Gulf International Bank UK Ltd reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,282 shares of the network equipment provider’s stock after selling 13,989 shares during the period. Gulf International Bank UK Ltd’s holdings in Cisco Systems were worth $16,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after acquiring an additional 288,775 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares in the last quarter. IRON Financial LLC purchased a new position in Cisco Systems in the 3rd quarter worth about $856,000. Finally, Quintet Private Bank Europe S.A. lifted its stake in Cisco Systems by 17.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after acquiring an additional 92,179 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $55.83 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The business has a 50 day simple moving average of $52.73 and a two-hundred day simple moving average of $49.16. The stock has a market capitalization of $222.80 billion, a PE ratio of 21.98, a P/E/G ratio of 4.60 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, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the business posted $1.01 earnings per share. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. On average, research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend 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 62.99%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CSCO. Jefferies Financial Group lowered their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Barclays lowered their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Finally, Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.74.

Insider Activity

In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 in the last ninety days. Insiders own 0.01% of the company’s stock.

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.