Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,992 shares of the network equipment provider’s stock after selling 690 shares during the period. Cigna Investments Inc. New’s holdings in Cisco Systems were worth $2,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new position in shares of Cisco Systems during the 3rd quarter valued at $798,000. HighVista Strategies LLC bought a new stake in Cisco Systems in the third quarter worth $1,698,000. GAMMA Investing LLC boosted its holdings in Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of Cisco Systems in the third quarter valued at about $502,000. Finally, Commerzbank Aktiengesellschaft FI grew 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 valued at $88,261,000 after purchasing an additional 162,544 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Bank of America raised their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. UBS Group lifted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Morgan Stanley lifted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Finally, StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $62.81 on Tuesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $63.25. 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 business’s 50-day simple moving average is $59.71 and its two-hundred day simple moving average is $55.10. The stock has a market cap of $250.16 billion, a PE ratio of 26.96, a P/E/G ratio of 4.63 and a beta of 0.84.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. Cisco Systems’s payout ratio 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.