Migdal Insurance & Financial Holdings Ltd. Sells 1,040 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Migdal Insurance & Financial Holdings Ltd. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% in the fourth quarter, HoldingsChannel reports. The fund owned 63,015 shares of the network equipment provider’s stock after selling 1,040 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Cisco Systems were worth $3,730,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CSCO. RNC Capital Management LLC raised its stake in shares of Cisco Systems by 14.7% during the fourth quarter. RNC Capital Management LLC now owns 1,085,899 shares of the network equipment provider’s stock worth $64,285,000 after buying an additional 139,323 shares during the last quarter. Spectrum Asset Management Inc. NB CA raised its stake in shares of Cisco Systems by 1.0% during the fourth quarter. Spectrum Asset Management Inc. NB CA now owns 64,793 shares of the network equipment provider’s stock worth $3,836,000 after buying an additional 623 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Cisco Systems during the fourth quarter worth approximately $12,415,000. Consolidated Portfolio Review Corp raised its stake in shares of Cisco Systems by 364.3% during the fourth quarter. Consolidated Portfolio Review Corp now owns 21,830 shares of the network equipment provider’s stock worth $1,292,000 after buying an additional 17,128 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of Cisco Systems by 3.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 189,182 shares of the network equipment provider’s stock worth $11,200,000 after buying an additional 5,829 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSCO. UBS Group boosted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $55.00 to $66.00 in a report on Monday, November 11th. Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Tigress Financial boosted their price objective 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. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $62.27 on Friday. The company’s fifty day simple moving average is $59.59 and its 200-day simple moving average is $54.82. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $248.01 billion, a PE ratio of 26.73, a P/E/G ratio of 4.51 and a beta of 0.84. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.91.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.