Dana Investment Advisors Inc. decreased its position in Cisco Systems Inc. (NASDAQ:CSCO) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,268,186 shares of the network equipment provider’s stock after selling 31,329 shares during the period. Cisco Systems makes up 1.6% of Dana Investment Advisors Inc.’s investment portfolio, making the stock its 8th largest position. Dana Investment Advisors Inc.’s holdings in Cisco Systems were worth $36,384,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Emerald Acquisition Ltd. acquired a new position in shares of Cisco Systems during the second quarter worth about $247,452,000. Lazard Asset Management LLC increased its position in Cisco Systems by 36.5% in the first quarter. Lazard Asset Management LLC now owns 29,925,456 shares of the network equipment provider’s stock valued at $851,976,000 after buying an additional 8,009,233 shares during the last quarter. Franklin Resources Inc. increased its position in Cisco Systems by 10.7% in the first quarter. Franklin Resources Inc. now owns 68,832,423 shares of the network equipment provider’s stock valued at $1,959,666,000 after buying an additional 6,635,971 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Cisco Systems during the first quarter valued at $120,699,000. Finally, Primecap Management Co. CA increased its position in Cisco Systems by 16.0% in the first quarter. Primecap Management Co. CA now owns 29,127,015 shares of the network equipment provider’s stock valued at $829,246,000 after buying an additional 4,013,625 shares during the last quarter. 74.77% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.84% on Wednesday, hitting $31.36. The company’s stock had a trading volume of 21,150,603 shares. The company has a market capitalization of $157.25 billion, a P/E ratio of 14.86 and a beta of 1.37. The company has a 50 day moving average price of $31.11 and a 200-day moving average price of $29.10. Cisco Systems Inc. has a 1-year low of $22.46 and a 1-year high of $31.95.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. On average, equities analysts forecast that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a yield of 3.32%. Cisco Systems’s dividend payout ratio is 49.06%.

Several research firms recently weighed in on CSCO. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $30.77 price objective for the company in a research note on Tuesday, June 7th. Jefferies Group reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Monday, August 29th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Wednesday, August 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 18th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Monday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.11.

In other news, CEO Charles Robbins sold 148,800 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $31.01, for a total transaction of $4,614,288.00. Following the sale, the chief executive officer now directly owns 629,813 shares of the company’s stock, valued at $19,530,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Pankaj Patel sold 9,891 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $29.03, for a total transaction of $287,135.73. Following the sale, the executive vice president now directly owns 356,307 shares in the company, valued at $10,343,592.21. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Cisco Systems Company Profile

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

5 Day Chart for NASDAQ:CSCO

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