Miller Howard Investments Inc. NY cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm owned 3,557,908 shares of the network equipment provider’s stock after selling 93,953 shares during the quarter. Cisco Systems makes up approximately 2.5% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 5th largest position. Miller Howard Investments Inc. NY’s holdings in Cisco Systems were worth $119,652,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Cisco Systems during the 2nd quarter worth about $231,000. Barnett & Company Inc. boosted its stake in shares of Cisco Systems by 1,511.5% during the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in shares of Cisco Systems by 36.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in shares of Cisco Systems during the 2nd quarter worth about $104,000. Finally, Manchester Capital Management LLC boosted its stake in shares of Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after buying an additional 350 shares during the last quarter. 75.55% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $38.99 to $46.00 in a research note on Friday, January 5th. They noted that the move was a valuation call. Vetr upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective for the company in a research note on Wednesday, December 27th. Stifel Nicolaus restated a “hold” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Thursday, December 14th. Finally, Robert W. Baird restated a “buy” rating and set a $41.00 price objective on shares of Cisco Systems in a research note on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus target price of $37.66.

Cisco Systems, Inc. (NASDAQ CSCO) opened at $39.69 on Wednesday. The firm has a market cap of $196,210.00, a PE ratio of 20.56, a price-to-earnings-growth ratio of 3.57 and a beta of 1.19. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a fifty-two week low of $29.80 and a fifty-two week high of $39.96.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. equities research analysts anticipate that Cisco Systems, Inc. will post 2.21 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be issued a $0.29 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.16 annualized dividend and a yield of 2.92%. Cisco Systems’s dividend payout ratio is currently 60.10%.

In other Cisco Systems news, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total value of $2,882,306.82. Following the transaction, the senior vice president now directly owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $95,092.94. Following the completion of the transaction, the chief accounting officer now directly owns 89,184 shares in the company, valued at $3,254,324.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 348,643 shares of company stock worth $12,892,271. Insiders own 0.05% of the company’s stock.

WARNING: “Cisco Systems, Inc. (CSCO) is Miller Howard Investments Inc. NY’s 5th Largest Position” was published by Daily Political and is the property of of Daily Political. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.dailypolitical.com/2018/01/10/cisco-systems-inc-csco-is-miller-howard-investments-inc-nys-5th-largest-position.html.

Cisco Systems Company Profile

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).

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.