Invesco LLC Sells 237 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Invesco LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,076 shares of the network equipment provider’s stock after selling 237 shares during the quarter. Invesco LLC’s holdings in Cisco Systems were worth $1,547,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after acquiring an additional 1,853,598 shares during the last quarter. Legal & General Group Plc boosted its stake in Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after acquiring an additional 1,530,468 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. Swedbank AB bought a new position in Cisco Systems during the 1st quarter worth approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Cisco Systems by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after acquiring an additional 2,906,357 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent analyst reports. Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Barclays cut their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.74.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.73 on Friday, hitting $55.50. The company had a trading volume of 19,235,612 shares, compared to its average volume of 19,047,523. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The stock has a market cap of $221.49 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 4.61 and a beta of 0.83. The stock has a 50 day moving average price of $52.63 and a 200 day moving average price of $49.09. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. Cisco Systems’s payout ratio is presently 62.99%.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the 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 owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is owned by company insiders.

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.