Cisco Systems, Inc. (CSCO) Shares Sold by Berkeley Capital Partners LLC

Berkeley Capital Partners LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 17,887 shares of the network equipment provider’s stock after selling 1,190 shares during the period. Berkeley Capital Partners LLC’s holdings in Cisco Systems were worth $769,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CSCO. BlackRock Inc. raised 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 valued at $14,539,904,000 after purchasing an additional 3,630,488 shares during the last quarter. Boston Partners raised its stake in Cisco Systems by 1.5% in the 2nd quarter. Boston Partners now owns 34,447,604 shares of the network equipment provider’s stock valued at $1,482,280,000 after purchasing an additional 499,099 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Cisco Systems by 3.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 18,289,036 shares of the network equipment provider’s stock valued at $784,417,000 after purchasing an additional 526,547 shares during the last quarter. Fisher Asset Management LLC raised its stake in Cisco Systems by 3.8% in the 2nd quarter. Fisher Asset Management LLC now owns 17,969,867 shares of the network equipment provider’s stock valued at $773,243,000 after purchasing an additional 662,706 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Cisco Systems by 4.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,279,774 shares of the network equipment provider’s stock valued at $657,489,000 after purchasing an additional 683,733 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on the company. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Piper Jaffray Companies set a $50.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Monday, July 9th. BidaskClub downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. Goldman Sachs Group reissued a “buy” rating and issued a $56.00 price objective on shares of Cisco Systems in a research note on Thursday, August 16th. Finally, Credit Suisse Group increased their price objective on Cisco Systems from $41.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, August 16th. Eight investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $48.76.

Shares of CSCO opened at $45.75 on Thursday. Cisco Systems, Inc. has a 52-week low of $33.67 and a 52-week high of $49.47. The firm has a market capitalization of $213.18 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 2.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.76 billion. During the same period last year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, October 4th. Cisco Systems’s dividend payout ratio is presently 56.41%.

In other news, Chairman Charles Robbins sold 217,420 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $47.28, for a total transaction of $10,279,617.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Goeckeler sold 63,050 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $47.57, for a total value of $2,999,288.50. Following the transaction, the executive vice president now owns 547,019 shares of the company’s stock, valued at $26,021,693.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 450,620 shares of company stock valued at $21,322,282. Company insiders own 0.03% of the company’s stock.

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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