Zurcher Kantonalbank Zurich Cantonalbank Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 21.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,101,500 shares of the network equipment provider’s stock after selling 305,729 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cisco Systems were worth $58,622,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CSCO. First City Capital Management Inc. raised its stake in Cisco Systems by 2.6% during the 1st quarter. First City Capital Management Inc. now owns 20,232 shares of the network equipment provider’s stock valued at $1,010,000 after buying an additional 515 shares during the last quarter. Cetera Investment Advisers increased its position in Cisco Systems by 217.4% during the first quarter. Cetera Investment Advisers now owns 1,107,552 shares of the network equipment provider’s stock valued at $55,278,000 after acquiring an additional 758,624 shares during the last quarter. Cetera Advisors LLC lifted its holdings in Cisco Systems by 90.1% in the first quarter. Cetera Advisors LLC now owns 268,251 shares of the network equipment provider’s stock valued at $13,388,000 after acquiring an additional 127,174 shares during the period. Clean Yield Group lifted its holdings in Cisco Systems by 25.0% in the first quarter. Clean Yield Group now owns 86,246 shares of the network equipment provider’s stock valued at $4,305,000 after acquiring an additional 17,247 shares during the period. Finally, Birmingham Capital Management Co. Inc. AL boosted its position in Cisco Systems by 1.7% in the first quarter. Birmingham Capital Management Co. Inc. AL now owns 18,106 shares of the network equipment provider’s stock worth $904,000 after purchasing an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.5 %

Shares of CSCO opened at $59.29 on Thursday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.87. The company has a 50 day simple moving average of $55.53 and a two-hundred day simple moving average of $50.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a market cap of $236.14 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 4.38 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the firm posted $0.98 EPS. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

Wall Street Analyst Weigh In

CSCO has been the topic of several recent research reports. UBS Group increased their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Barclays lifted their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Jefferies Financial Group reduced their price objective 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. Finally, New Street Research raised 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. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 339,479 shares of company stock worth $19,490,991 in the last quarter. 0.01% of the stock is owned by corporate 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.