Americana Partners LLC Sells 529 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Americana Partners LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 112,845 shares of the network equipment provider’s stock after selling 529 shares during the quarter. Americana Partners LLC’s holdings in Cisco Systems were worth $6,006,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in 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 worth $36,847,000 after purchasing an additional 288,775 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after acquiring an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position 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 worth $88,261,000 after purchasing an additional 162,544 shares during the period. IRON Financial LLC bought a new position in shares of Cisco Systems in the third quarter worth approximately $856,000. Finally, Valmark Advisers Inc. increased its stake in shares of Cisco Systems by 4.7% in the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock worth $1,941,000 after purchasing an additional 1,820 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research analyst reports. Rosenblatt Securities boosted their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Barclays lowered 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. Jefferies Financial Group decreased their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Evercore ISI increased their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $56.74.

Cisco Systems Stock Up 1.4 %

Shares of CSCO stock traded up $0.79 during mid-day trading on Friday, hitting $55.56. The stock had a trading volume of 4,058,577 shares, compared to its average volume of 18,974,863. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06. 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 firm’s 50-day moving average is $52.53 and its two-hundred day moving average is $49.04. The firm has a market capitalization of $221.73 billion, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the business earned $1.01 EPS. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.88%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Insider Activity

In related news, 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 completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The stock was 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 approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by company insiders.

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.