Ingalls & Snyder LLC Sells 19,698 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Ingalls & Snyder LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 18.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,139 shares of the network equipment provider’s stock after selling 19,698 shares during the period. Ingalls & Snyder LLC’s holdings in Cisco Systems were worth $4,638,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Janus Henderson Group PLC grew its position in shares of Cisco Systems by 31.5% in the third quarter. Janus Henderson Group PLC now owns 2,703,949 shares of the network equipment provider’s stock valued at $143,877,000 after purchasing an additional 647,426 shares in the last quarter. Harber Asset Management LLC purchased a new position in Cisco Systems during the 3rd quarter valued at about $11,229,000. HighTower Advisors LLC increased its position in shares of Cisco Systems by 7.2% during the third quarter. HighTower Advisors LLC now owns 4,544,333 shares of the network equipment provider’s stock valued at $241,909,000 after buying an additional 304,217 shares during the period. HighVista Strategies LLC purchased a new stake in shares of Cisco Systems in the third quarter worth about $1,698,000. Finally, Hilltop Holdings Inc. boosted its position in shares of Cisco Systems by 46.7% in the third quarter. Hilltop Holdings Inc. now owns 122,957 shares of the network equipment provider’s stock valued at $6,544,000 after acquiring an additional 39,139 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the sale, the senior vice president now directly owns 51,931 shares in the company, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on 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 owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 344,360 shares of company stock worth $19,782,533 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.2 %

CSCO traded down $0.14 on Tuesday, hitting $59.29. 555,137 shares of the company were exchanged, compared to its average volume of 19,076,832. 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 12 month low of $44.50 and a 12 month high of $59.87. The firm has a fifty day simple moving average of $55.83 and a two-hundred day simple moving average of $50.54. The stock has a market capitalization of $236.14 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 4.41 and a beta of 0.85.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid 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 dividend yield of 2.70%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSCO. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Barclays upped their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. UBS Group raised their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

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 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.