Kornitzer Capital Management Inc. KS lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,096,908 shares of the network equipment provider’s stock after selling 18,546 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Cisco Systems were worth $34,333,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Watermark Asset Management Inc. bought a new position in Cisco Systems in the first quarter valued at about $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after acquiring an additional 560 shares during the last quarter. Baystate Wealth Management LLC boosted its holdings in Cisco Systems by 24.5% in the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock valued at $146,000 after acquiring an additional 1,484 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in Cisco Systems by 23.1% in the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock valued at $148,000 after acquiring an additional 823 shares during the last quarter. Finally, Thompson Davis & CO. Inc. boosted its holdings in Cisco Systems by 14.3% in the first quarter. Thompson Davis & CO. Inc. now owns 4,441 shares of the network equipment provider’s stock valued at $150,000 after acquiring an additional 555 shares during the last quarter. Institutional investors own 75.32% of the company’s stock.

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Several research firms recently issued reports on CSCO. Berenberg Bank set a $33.00 price target on Cisco Systems and gave the company a “hold” rating in a report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 target price on Cisco Systems and gave the stock a “buy” rating in a report on Saturday, July 1st. Stifel Nicolaus set a $34.00 target price on Cisco Systems and gave the stock a “hold” rating in a report on Tuesday, August 15th. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a report on Friday, August 18th. Finally, Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 target price on the stock in a report on Thursday, July 6th. Fifteen research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.30.

Cisco Systems, Inc. (NASDAQ CSCO) opened at 33.47 on Monday. The firm has a market cap of $165.74 billion, a PE ratio of 17.62 and a beta of 1.21. The stock’s 50 day moving average price is $32.80 and its 200-day moving average price is $32.33. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is 60.73%.

In related news, CEO Charles Robbins sold 121,390 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the completion of the sale, the chief executive officer now owns 552,694 shares of the company’s stock, valued at $17,719,369.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the sale, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock valued at $15,347,574 in the last three months. 0.11% of the stock is owned by corporate insiders.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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