Heritage Investors Management Corp Has $36.30 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Heritage Investors Management Corp trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 682,056 shares of the network equipment provider’s stock after selling 6,366 shares during the period. Cisco Systems accounts for approximately 1.2% of Heritage Investors Management Corp’s investment portfolio, making the stock its 19th biggest position. Heritage Investors Management Corp’s holdings in Cisco Systems were worth $36,299,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of 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 purchasing an additional 288,775 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Cisco Systems by 24.4% in the second 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 increased its holdings in shares of Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares during the last quarter. IRON Financial LLC acquired a new position in shares of Cisco Systems in the third quarter valued at $856,000. Finally, Quintet Private Bank Europe S.A. increased its holdings in shares of Cisco Systems by 17.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after purchasing an additional 92,179 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group reduced their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI boosted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.74.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. 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 owned by company insiders.

Cisco Systems Trading Down 0.4 %

Shares of Cisco Systems stock traded down $0.25 on Tuesday, hitting $55.58. The stock had a trading volume of 909,898 shares, compared to its average volume of 18,935,973. The stock has a 50 day moving average of $52.73 and a 200 day moving average of $49.16. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market capitalization of $221.81 billion, a P/E ratio of 21.92, a PEG ratio of 4.60 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released 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. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. Sell-side analysts expect 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. Stockholders of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 62.99%.

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.