Convergence Investment Partners LLC Sells 10,364 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Convergence Investment Partners LLC cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,993 shares of the network equipment provider’s stock after selling 10,364 shares during the quarter. Cisco Systems accounts for about 1.7% of Convergence Investment Partners LLC’s holdings, making the stock its 11th biggest holding. Convergence Investment Partners LLC’s holdings in Cisco Systems were worth $3,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Intellectus Partners LLC lifted its position in Cisco Systems by 1.5% during the fourth quarter. Intellectus Partners LLC now owns 36,590 shares of the network equipment provider’s stock valued at $1,849,000 after purchasing an additional 549 shares during the last quarter. Paradigm Financial Partners LLC lifted its position in Cisco Systems by 0.7% during the fourth quarter. Paradigm Financial Partners LLC now owns 42,004 shares of the network equipment provider’s stock valued at $2,122,000 after purchasing an additional 297 shares during the last quarter. Sargent Investment Group LLC lifted its position in Cisco Systems by 6.7% during the fourth quarter. Sargent Investment Group LLC now owns 14,320 shares of the network equipment provider’s stock valued at $723,000 after purchasing an additional 895 shares during the last quarter. Stonebrook Private Inc. bought a new stake in Cisco Systems during the fourth quarter valued at approximately $2,900,000. Finally, Unique Wealth Strategies LLC bought a new stake in Cisco Systems during the fourth quarter valued at approximately $1,430,000. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CSCO shares. UBS Group lifted their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Morgan Stanley assumed coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Finally, StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Trading Down 0.5 %

Cisco Systems stock traded down $0.24 during mid-day trading on Friday, reaching $47.86. 14,658,910 shares of the company traded hands, compared to its average volume of 16,851,638. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The firm’s 50 day moving average price is $48.94 and its 200 day moving average price is $50.04. The firm has a market capitalization of $193.79 billion, a price-to-earnings ratio of 14.55, a P/E/G ratio of 2.76 and a beta of 0.87. Cisco Systems, Inc. has a 52-week low of $45.56 and a 52-week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by company insiders.

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 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 and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.