Chevy Chase Trust Holdings Inc. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,065,966 shares of the network equipment provider’s stock after selling 96,381 shares during the period. Cisco Systems comprises 0.8% of Chevy Chase Trust Holdings Inc.’s investment portfolio, making the stock its 25th largest position. Chevy Chase Trust Holdings Inc. owned 0.08% of Cisco Systems worth $174,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in CSCO. Summit Trail Advisors LLC increased its stake in Cisco Systems by 4,313.3% in the 1st quarter. Summit Trail Advisors LLC now owns 4,814,373 shares of the network equipment provider’s stock worth $4,814,000 after purchasing an additional 4,705,284 shares during the period. SG Americas Securities LLC increased its stake in Cisco Systems by 565.8% in the 1st quarter. SG Americas Securities LLC now owns 4,532,099 shares of the network equipment provider’s stock worth $194,382,000 after purchasing an additional 3,851,446 shares during the period. BlackRock Inc. increased its stake in Cisco Systems by 1.1% in the 1st quarter. BlackRock Inc. now owns 339,004,547 shares of the network equipment provider’s stock worth $14,539,904,000 after purchasing an additional 3,630,488 shares during the period. OppenheimerFunds Inc. increased its stake in Cisco Systems by 61.0% in the 1st quarter. OppenheimerFunds Inc. now owns 9,183,708 shares of the network equipment provider’s stock worth $393,888,000 after purchasing an additional 3,479,165 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in Cisco Systems by 50.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 5,785,356 shares of the network equipment provider’s stock worth $248,135,000 after purchasing an additional 1,943,896 shares during the period. 71.44% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ CSCO opened at $45.46 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.29. Cisco Systems, Inc. has a twelve month low of $33.45 and a twelve month high of $49.47. The company has a market cap of $234.37 billion, a P/E ratio of 19.43, a PEG ratio of 2.87 and a beta of 1.07.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 2.67 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.90%. Cisco Systems’s dividend payout ratio is presently 56.41%.

In related news, EVP Mark D. Chandler sold 31,842 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $1,502,942.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP David Goeckeler sold 63,050 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $47.57, for a total value of $2,999,288.50. Following the sale, the executive vice president now owns 547,019 shares in the company, valued at $26,021,693.83. The disclosure for this sale can be found here. Insiders have sold 450,620 shares of company stock worth $21,322,282 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

A number of equities analysts have commented on CSCO shares. Morgan Stanley decreased their price target on Cisco Systems from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, July 19th. BidaskClub upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. JPMorgan Chase & Co. set a $59.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research report on Thursday, August 16th. Loop Capital reiterated a “hold” rating and issued a $47.00 price objective on shares of Cisco Systems in a research report on Monday, August 20th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Tuesday, July 17th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Cisco Systems has an average rating of “Buy” and a consensus price target of $48.76.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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