Mondrian Investment Partners LTD trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 31.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 874,848 shares of the network equipment provider’s stock after selling 398,472 shares during the period. Cisco Systems comprises 1.4% of Mondrian Investment Partners LTD’s investment portfolio, making the stock its 29th biggest position. Mondrian Investment Partners LTD’s holdings in Cisco Systems were worth $43,226,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of CSCO. Enlightenment Research LLC purchased a new stake in shares of Cisco Systems during the 2nd quarter valued at $5,600,000. Great Valley Advisor Group Inc. grew its holdings in shares of Cisco Systems by 87.1% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 53,601 shares of the network equipment provider’s stock valued at $2,935,000 after purchasing an additional 24,948 shares during the last quarter. A.R.T. Advisors LLC bought a new position in shares of Cisco Systems during the 2nd quarter valued at $5,214,000. Nachman Norwood & Parrott Inc grew its holdings in shares of Cisco Systems by 8.3% during the 3rd quarter. Nachman Norwood & Parrott Inc now owns 18,996 shares of the network equipment provider’s stock valued at $938,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Stevens Capital Management LP grew its holdings in shares of Cisco Systems by 39.1% during the 2nd quarter. Stevens Capital Management LP now owns 555,338 shares of the network equipment provider’s stock valued at $30,394,000 after purchasing an additional 156,143 shares during the last quarter. 73.27% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on CSCO. Credit Suisse Group reaffirmed a “neutral” rating and set a $49.00 target price (down previously from $50.00) on shares of Cisco Systems in a report on Tuesday. Robert W. Baird set a $54.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Friday, September 13th. BidaskClub raised shares of Cisco Systems from a “strong sell” rating to a “sell” rating in a report on Thursday. Evercore ISI began coverage on shares of Cisco Systems in a research note on Wednesday, September 11th. They set an “outperform” rating and a $60.00 target price on the stock. Finally, Morgan Stanley cut their target price on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $55.92.
In other Cisco Systems news, SVP Irving Tan sold 22,896 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $1,131,520.32. Following the completion of the transaction, the senior vice president now directly owns 154,819 shares in the company, valued at $7,651,154.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Chandler sold 546 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. Insiders have sold 193,130 shares of company stock valued at $9,359,179 over the last three months. 0.03% of the stock is owned by corporate insiders.
Shares of CSCO traded up $0.41 during mid-day trading on Friday, hitting $48.83. 14,395,271 shares of the company traded hands, compared to its average volume of 20,421,881. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. The stock has a 50-day moving average price of $47.57 and a two-hundred day moving average price of $52.11. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $58.26. The stock has a market cap of $202.69 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.30 and a beta of 1.28.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The firm had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. During the same period in the previous year, the company earned $0.70 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that Cisco Systems, Inc. will post 3.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. Cisco Systems’s payout ratio is 49.12%.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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