Allworth Financial LP lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,759 shares of the network equipment provider’s stock after selling 1,145 shares during the period. Allworth Financial LP’s holdings in Cisco Systems were worth $581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen Asset Management LLC raised its position in shares of Cisco Systems by 1,546.1% in the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after purchasing an additional 45,351,980 shares during the period. Fisher Asset Management LLC raised its position in shares of Cisco Systems by 4.4% in the second quarter. Fisher Asset Management LLC now owns 29,677,761 shares of the network equipment provider’s stock valued at $1,624,264,000 after purchasing an additional 1,253,256 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Cisco Systems by 2.6% in the second quarter. UBS Asset Management Americas Inc. now owns 18,929,924 shares of the network equipment provider’s stock valued at $1,036,035,000 after purchasing an additional 478,368 shares during the period. AQR Capital Management LLC raised its position in shares of Cisco Systems by 10.5% in the second quarter. AQR Capital Management LLC now owns 16,527,442 shares of the network equipment provider’s stock valued at $904,547,000 after purchasing an additional 1,573,540 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Cisco Systems by 0.3% during the 2nd quarter. California Public Employees Retirement System now owns 13,909,185 shares of the network equipment provider’s stock worth $761,250,000 after acquiring an additional 44,733 shares during the period. 73.31% of the stock is currently owned by institutional investors.

A number of research firms recently weighed in on CSCO. MKM Partners decreased their target price on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Raymond James reaffirmed an “overweight” rating on shares of Cisco Systems in a report on Friday, August 16th. BidaskClub lowered shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a report on Saturday, August 31st. KeyCorp decreased their target price on shares of Cisco Systems from $60.00 to $56.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, Robert W. Baird set a $54.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $56.60.

In other news, EVP David Goeckeler sold 70,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $49.22, for a total value of $3,445,400.00. Following the transaction, the executive vice president now owns 429,398 shares of the company’s stock, valued at approximately $21,134,969.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark D. Chandler sold 546 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. Insiders sold a total of 193,130 shares of company stock worth $9,359,179 in the last three months. Insiders own 0.03% of the company’s stock.

Shares of NASDAQ:CSCO traded up $0.45 during trading on Wednesday, reaching $46.84. The company had a trading volume of 16,351,541 shares, compared to its average volume of 20,827,246. The company has a fifty day moving average of $48.20 and a two-hundred day moving average of $53.26. The stock has a market capitalization of $201.74 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.29 and a beta of 1.28. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, October 3rd. Cisco Systems’s payout ratio is 49.12%.

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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