Franklin Street Advisors Inc. NC Has $4.44 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Franklin Street Advisors Inc. NC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 17.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 83,373 shares of the network equipment provider’s stock after selling 17,194 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Cisco Systems were worth $4,437,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CSCO. Bank of New York Mellon Corp increased its holdings in Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after buying an additional 1,853,598 shares during the period. Legal & General Group Plc increased its holdings in Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after buying an additional 1,530,468 shares during the period. Wellington Management Group LLP increased its holdings in Cisco Systems by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after buying an additional 3,314,330 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after buying an additional 4,843,146 shares during the period. Finally, FIL Ltd increased its holdings in Cisco Systems by 47.1% in the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after buying an additional 6,054,748 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Up 0.5 %

Shares of NASDAQ CSCO traded up $0.25 during trading on Friday, hitting $53.79. The stock had a trading volume of 707,952 shares, compared to its average volume of 19,100,383. The firm has a fifty day moving average of $49.99 and a two-hundred day moving average of $48.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market capitalization of $214.66 billion, a PE ratio of 21.08, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $54.58.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company 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 firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.97%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value 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 approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 over the last three months. 0.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on CSCO shares. Barclays decreased their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Rosenblatt Securities lifted their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.00.

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.