Lowe Brockenbrough & Co. Inc. Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Lowe Brockenbrough & Co. Inc. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 267,687 shares of the network equipment provider’s stock after selling 25,913 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Cisco Systems were worth $14,246,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in shares of Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after purchasing an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares in the last quarter. IRON Financial LLC purchased a new stake in Cisco Systems during the 3rd quarter worth approximately $856,000. Finally, Valmark Advisers Inc. increased its stake in Cisco Systems by 4.7% during the 2nd quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after purchasing an additional 1,820 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last quarter. 0.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CSCO. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $62.00 in a research note on Wednesday, October 16th. Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $56.74.

Cisco Systems Stock Up 1.3 %

Shares of CSCO opened at $55.50 on Friday. The firm has a market cap of $221.49 billion, a P/E ratio of 21.85, a PEG ratio of 4.61 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06. The stock’s 50 day moving average is $52.63 and its two-hundred day moving average is $49.09. 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 (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.88%. Cisco Systems’s dividend payout ratio (DPR) is currently 62.99%.

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.