Cowa LLC Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cowa LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 28.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,120 shares of the network equipment provider’s stock after selling 4,025 shares during the period. Cowa LLC’s holdings in Cisco Systems were worth $405,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Cisco Systems by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after acquiring an additional 3,087,294 shares in the last quarter. Dodge & Cox grew its stake in Cisco Systems by 0.9% in the second quarter. Dodge & Cox now owns 47,111,072 shares of the network equipment provider’s stock worth $2,008,816,000 after purchasing an additional 408,930 shares in the last quarter. Legal & General Group Plc increased its holdings in Cisco Systems by 1.7% in the second quarter. Legal & General Group Plc now owns 36,134,446 shares of the network equipment provider’s stock valued at $1,540,775,000 after buying an additional 611,068 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Cisco Systems by 1.2% during the second quarter. UBS Asset Management Americas Inc. now owns 28,721,956 shares of the network equipment provider’s stock valued at $1,224,704,000 after buying an additional 340,905 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Cisco Systems by 17.8% during the 2nd quarter. Nordea Investment Management AB now owns 18,888,034 shares of the network equipment provider’s stock worth $797,830,000 after buying an additional 2,859,583 shares during the last quarter. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $47.65 on Wednesday. The firm’s 50-day simple moving average is $48.07 and its 200 day simple moving average is $45.41. The stock has a market cap of $195.79 billion, a P/E ratio of 17.26, a P/E/G ratio of 2.31 and a beta of 0.99. Cisco Systems, Inc. has a fifty-two week low of $38.60 and a fifty-two week high of $57.69. The company has a quick ratio of 1.34, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its earnings results on Wednesday, November 16th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $13.63 billion for the quarter, compared to analyst estimates of $13.29 billion. Cisco Systems had a return on equity of 31.68% and a net margin of 22.00%. Cisco Systems’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 3.16 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Thursday, January 5th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, January 4th. This represents a $1.52 dividend on an annualized basis and a yield of 3.19%. Cisco Systems’s dividend payout ratio is currently 54.87%.

Insider Buying and Selling

In related news, COO Maria Martinez sold 3,201 shares of Cisco Systems stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $47.81, for a total value of $153,039.81. Following the transaction, the chief operating officer now owns 452,254 shares of the company’s stock, valued at approximately $21,622,263.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, COO Maria Martinez sold 3,201 shares of Cisco Systems stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $47.81, for a total transaction of $153,039.81. Following the transaction, the chief operating officer now owns 452,254 shares of the company’s stock, valued at approximately $21,622,263.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Prat Bhatt sold 9,752 shares of Cisco Systems stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $47.80, for a total value of $466,145.60. Following the transaction, the senior vice president now directly owns 56,159 shares in the company, valued at approximately $2,684,400.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,098 shares of company stock valued at $11,939,277. 0.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Cisco Systems from $54.00 to $52.00 and set a “hold” rating on the stock in a research report on Friday, November 18th. Bank of America reaffirmed a “buy” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Wednesday, November 16th. Rosenblatt Securities dropped their price objective on shares of Cisco Systems from $53.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 17th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 target price on shares of Cisco Systems in a report on Friday, November 18th. Finally, Cowen raised their price target on Cisco Systems from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, November 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.95.

Cisco Systems Company Profile

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Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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

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