Natixis lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 89.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 121,523 shares of the network equipment provider’s stock after selling 1,005,159 shares during the period. Natixis’ holdings in Cisco Systems were worth $6,651,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Evolution Wealth Advisors LLC bought a new position in shares of Cisco Systems in the second quarter worth approximately $33,000. Lowe Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $38,000. Personal Wealth Partners purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $44,000. Ashburton Jersey Ltd purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $49,000. Finally, Cohen & Steers Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 73.31% of the company’s stock.
Shares of NASDAQ CSCO traded down $0.02 during midday trading on Friday, reaching $47.04. The stock had a trading volume of 2,604,410 shares, compared to its average volume of 19,151,722. The stock has a 50-day moving average of $48.26 and a 200-day moving average of $53.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. The company has a market capitalization of $202.67 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month high of $58.26.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.98%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
In other news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total value of $3,270,400.00. Following the completion of the sale, the chief financial officer now directly owns 277,548 shares of the company’s stock, valued at $12,967,042.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Chandler sold 546 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 193,130 shares of company stock valued at $9,359,179. Corporate insiders own 0.03% of the company’s stock.
CSCO has been the subject of several research reports. Royal Bank of Canada decreased their price objective on shares of Cisco Systems from $64.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Barclays initiated coverage on shares of Cisco Systems in a report on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price objective for the company. Credit Suisse Group set a $50.00 price objective on shares of Cisco Systems and gave the company a “neutral” rating in a report on Tuesday, August 27th. Citigroup decreased their price objective on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, ValuEngine cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $56.60.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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