Impax Asset Management Group plc Has $9.75 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Impax Asset Management Group plc lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 183,179 shares of the network equipment provider’s stock after selling 26,159 shares during the quarter. Impax Asset Management Group plc’s holdings in Cisco Systems were worth $9,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems during the 2nd quarter valued at $25,000. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Quarry LP boosted its holdings in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. Hobbs Group Advisors LLC acquired a new position in Cisco Systems in the 2nd quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC raised its holdings in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,924 shares of company stock valued at $1,798,131 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $57.46 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The stock has a market capitalization of $229.31 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83. The stock has a fifty day moving average of $54.00 and a 200-day moving average of $49.69.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. Cisco Systems’s payout ratio is presently 68.67%.

Analyst Ratings Changes

CSCO has been the subject of a number of research analyst reports. Citigroup boosted their price objective on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday. Barclays upped their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday. 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. Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $59.42.

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.