KCM Investment Advisors LLC Sells 2,622 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

KCM Investment Advisors LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,438 shares of the network equipment provider’s stock after selling 2,622 shares during the period. KCM Investment Advisors LLC’s holdings in Cisco Systems were worth $4,973,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after purchasing an additional 1,530,468 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cisco Systems by 22.5% in the second 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 during the period. Swedbank AB purchased a new stake in shares of Cisco Systems in the first quarter worth approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after buying an additional 2,906,357 shares during the period. 73.33% of the stock is owned by institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the sale, the chief financial officer now owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. The trade was a 7.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,924 shares of company stock valued at $1,798,131 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Down 0.8 %

Shares of NASDAQ:CSCO traded down $0.48 on Friday, reaching $57.44. The company had a trading volume of 3,682,675 shares, compared to its average volume of 19,034,652. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The firm’s 50 day simple moving average is $54.00 and its 200-day simple moving average is $49.69. The firm has a market capitalization of $229.23 billion, a PE ratio of 24.82, a PEG ratio of 4.90 and a beta of 0.83. 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 posted 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. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.79%. Cisco Systems’s payout ratio is 68.67%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CSCO shares. Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $66.00 in a report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Bank of America increased their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Rosenblatt Securities raised their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Eleven investment 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.42.

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.