Connor Clark & Lunn Investment Management Ltd. Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 22.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 34,737 shares of the network equipment provider’s stock after selling 10,180 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cisco Systems were worth $1,849,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CSCO. Bank of New York Mellon Corp increased its stake in Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after purchasing an additional 1,853,598 shares during the period. Legal & General Group Plc increased its stake in Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after buying an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Swedbank AB purchased a new position in Cisco Systems in the 1st quarter valued at approximately $840,538,000. Finally, Raymond James & Associates grew its stake in shares of Cisco Systems by 0.9% in the second quarter. Raymond James & Associates now owns 13,305,175 shares of the network equipment provider’s stock worth $632,129,000 after acquiring an additional 117,351 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Up 0.3 %

NASDAQ CSCO opened at $58.74 on Tuesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The firm has a market cap of $233.95 billion, a PE ratio of 25.21, a P/E/G ratio of 4.37 and a beta of 0.83. The firm’s fifty day moving average is $55.17 and its two-hundred day moving average is $50.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. Cisco Systems’s payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 342,858 shares of company stock worth $19,661,157. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSCO. Wells Fargo & Company increased their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Tigress Financial increased their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.94.

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.