Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by APG Asset Management US Inc.

APG Asset Management US Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.9% during the second quarter, Holdings Channel.com reports. The firm owned 602,493 shares of the network equipment provider’s stock after selling 73,798 shares during the quarter. APG Asset Management US Inc.’s holdings in Cisco Systems were worth $28,630,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Cisco Systems by 1,096.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after acquiring an additional 2,663,676 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Cisco Systems by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after acquiring an additional 288,775 shares in the last quarter. Marcum Wealth LLC lifted its stake in Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after purchasing an additional 943 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after purchasing an additional 51,924 shares in the last quarter. Finally, Inscription Capital LLC increased its stake in Cisco Systems by 49.4% in the first quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after purchasing an additional 15,198 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $52.65 on Thursday. The stock has a market capitalization of $210.11 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 4.11 and a beta of 0.83. The business’s 50 day moving average is $48.72 and its two-hundred day moving average is $48.08. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $54.58. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. Research analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CSCO shares. Evercore ISI upped their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Jefferies Financial Group cut their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average target price of $55.00.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by company insiders.

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 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.