Parallel Advisors LLC Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Parallel Advisors LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,205 shares of the network equipment provider’s stock after selling 11,391 shares during the period. Parallel Advisors LLC’s holdings in Cisco Systems were worth $5,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after purchasing an additional 6,345,954 shares during the period. FMR LLC raised its position in Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after acquiring an additional 1,790,717 shares during the period. Northern Trust Corp raised its position in Cisco Systems by 3.8% in the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after acquiring an additional 1,847,682 shares during the period. Norges Bank bought a new position in Cisco Systems in the fourth quarter worth approximately $2,528,939,000. Finally, Invesco Ltd. raised its position in Cisco Systems by 3.7% in the third quarter. Invesco Ltd. now owns 33,536,256 shares of the network equipment provider’s stock worth $1,802,909,000 after acquiring an additional 1,181,327 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent research reports. Oppenheimer increased their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, May 16th. Barclays raised their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.47.

Check Out Our Latest Report on CSCO

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,457 shares of company stock valued at $1,358,772. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded up $0.29 on Tuesday, reaching $46.71. 3,485,592 shares of the company were exchanged, compared to its average volume of 19,190,512. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 1-year low of $46.10 and a 1-year high of $58.19. The firm has a market cap of $188.19 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87. The company has a 50-day moving average of $48.34 and a 200-day moving average of $49.23.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 EPS. Equities analysts forecast that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

About Cisco Systems

(Free Report)

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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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