Mizuho Securities USA LLC Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Mizuho Securities USA LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 60.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,710 shares of the network equipment provider’s stock after selling 188,499 shares during the period. Mizuho Securities USA LLC’s holdings in Cisco Systems were worth $6,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in Cisco Systems in the 2nd quarter worth approximately $25,000. Quarry LP lifted its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC increased its stake in shares of 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 during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the 2nd quarter worth $36,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after purchasing an additional 766 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Wells Fargo & Company increased their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, August 15th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.42.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 6.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. This trade represents a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,924 shares of company stock valued at $1,798,131. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.8 %

CSCO opened at $57.46 on Friday. The business has a fifty day moving average price of $54.18 and a 200 day moving average price of $49.78. 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 12 month low of $44.50 and a 12 month high of $59.38. The stock has a market capitalization of $229.31 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 4.90 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

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.