Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Perkins Coie Trust Co

Perkins Coie Trust Co cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 75,111 shares of the network equipment provider’s stock after selling 2,117 shares during the quarter. Perkins Coie Trust Co’s holdings in Cisco Systems were worth $4,447,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of CSCO. State Street Corp raised its position in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Cisco Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after purchasing an additional 1,677,383 shares in the last quarter. FMR LLC lifted its stake in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Cisco Systems by 3.3% during the second 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 in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.7 %

Shares of Cisco Systems stock opened at $60.23 on Friday. The firm has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 4.37 and a beta of 0.84. The stock has a 50-day simple moving average of $58.91 and a 200-day simple moving average of $53.52. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Ratings Changes

CSCO has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup increased their price target on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company boosted their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $73.00 in a research report on Monday, January 6th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction dated 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 in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Company 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.