Davis R M Inc. Sells 422 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Davis R M Inc. lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,196 shares of the network equipment provider’s stock after selling 422 shares during the period. Davis R M Inc.’s holdings in Cisco Systems were worth $1,022,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Cisco Systems by 2.7% in the second 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 purchasing an additional 1,853,598 shares during the last quarter. Legal & General Group Plc raised its position in shares of Cisco Systems by 3.3% in the second 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 purchasing an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Cisco Systems during the 1st quarter worth about $840,538,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $58.74 on Tuesday. The firm’s fifty day moving average price is $55.17 and its two-hundred day moving average price is $50.24. The stock has a market cap of $233.95 billion, a PE ratio of 25.21, a PEG ratio of 4.37 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. 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. Barclays upped their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Insider Activity

In other news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 342,858 shares of company stock valued at $19,661,157. Insiders own 0.01% of the company’s stock.

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.