Donaldson Capital Management LLC Lowers Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Donaldson Capital Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 87.0% during the third quarter, Holdings Channel.com reports. The fund owned 88,078 shares of the network equipment provider’s stock after selling 589,834 shares during the period. Donaldson Capital Management LLC’s holdings in Cisco Systems were worth $4,688,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Waypoint Capital Advisors LLC raised its position in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after acquiring an additional 182 shares in the last quarter. Andina Capital Management LLC lifted its stake in shares of Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after purchasing an additional 182 shares during the period. Meridian Financial Partners LLC boosted its holdings in Cisco Systems by 3.8% during the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock worth $267,000 after buying an additional 185 shares in the last quarter. Gleason Group Inc. grew its position in Cisco Systems by 0.9% during the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after buying an additional 193 shares during the period. Finally, Cassia Capital Partners LLC increased its holdings in Cisco Systems by 1.5% in the third quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock valued at $696,000 after buying an additional 195 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

CSCO stock opened at $55.50 on Monday. The company has a market cap of $221.49 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 4.54 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $52.63 and a two-hundred day moving average price of $49.10. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06.

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, beating 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 firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm posted $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors 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 dividend on an annualized basis and a yield of 2.88%. Cisco Systems’s dividend payout ratio (DPR) is 62.99%.

Insider Activity at Cisco Systems

In other Cisco Systems 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 value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CSCO shares. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Jefferies Financial Group dropped their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Tigress Financial raised their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Evercore ISI upped their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.74.

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.