Commonwealth Equity Services LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,459,843 shares of the network equipment provider’s stock after buying an additional 13,383 shares during the period. Commonwealth Equity Services LLC’s holdings in Cisco Systems were worth $71,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PDS Planning Inc boosted its stake in shares of Cisco Systems by 35.6% during the 3rd quarter. PDS Planning Inc now owns 5,085 shares of the network equipment provider’s stock worth $247,000 after buying an additional 1,336 shares during the last quarter. Allstate Corp bought a new stake in shares of Cisco Systems in the 2nd quarter valued at about $241,000. Torray LLC raised its holdings in shares of Cisco Systems by 1.0% in the 3rd quarter. Torray LLC now owns 531,055 shares of the network equipment provider’s stock valued at $25,836,000 after purchasing an additional 5,262 shares during the period. Greenleaf Trust raised its holdings in shares of Cisco Systems by 5.8% in the 3rd quarter. Greenleaf Trust now owns 68,776 shares of the network equipment provider’s stock valued at $3,346,000 after purchasing an additional 3,740 shares during the period. Finally, Dearborn Partners LLC raised its holdings in shares of Cisco Systems by 8.2% in the 3rd quarter. Dearborn Partners LLC now owns 20,948 shares of the network equipment provider’s stock valued at $1,019,000 after purchasing an additional 1,585 shares during the period. Institutional investors and hedge funds own 69.30% of the company’s stock.

In other news, SVP Prat Bhatt sold 33,950 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $44.86, for a total transaction of $1,522,997.00. Following the transaction, the senior vice president now directly owns 90,207 shares of the company’s stock, valued at $4,046,686.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Michele Burns sold 4,744 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $44.06, for a total transaction of $209,020.64. Following the transaction, the director now directly owns 74,164 shares in the company, valued at $3,267,665.84. The disclosure for this sale can be found here. Insiders have sold 166,067 shares of company stock worth $7,804,662 over the last ninety days. Insiders own 0.03% of the company’s stock.

A number of brokerages have recently issued reports on CSCO. Nomura cut shares of Cisco Systems from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a report on Friday, December 14th. Robert W. Baird reaffirmed an “outperform” rating and issued a $53.00 target price on shares of Cisco Systems in a report on Thursday, November 29th. Wolfe Research began coverage on shares of Cisco Systems in a report on Tuesday, December 11th. They issued an “outperform” rating on the stock. KeyCorp upped their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 15th. Finally, Raymond James upped their target price on shares of Cisco Systems from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 15th. Eight research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $51.05.

Cisco Systems stock opened at $47.19 on Monday. The stock has a market capitalization of $227.34 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 2.76 and a beta of 1.16. The company has a current ratio of 2.11, a quick ratio of 2.05 and a debt-to-equity ratio of 0.42. Cisco Systems, Inc. has a twelve month low of $38.23 and a twelve month high of $49.47.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.86 billion. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 23rd. Stockholders of record on Friday, January 4th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, January 3rd. This represents a $1.32 annualized dividend and a dividend yield of 2.80%. Cisco Systems’s dividend payout ratio is presently 56.41%.

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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 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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