Northeast Investment Management Has $2.71 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Northeast Investment Management trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,982 shares of the network equipment provider’s stock after selling 885 shares during the quarter. Northeast Investment Management’s holdings in Cisco Systems were worth $2,713,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after purchasing an additional 288,775 shares during the period. Citizens Financial Group Inc. RI raised its position in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after buying an additional 162,544 shares during the last quarter. IRON Financial LLC purchased a new stake in Cisco Systems in the 3rd quarter valued at $856,000. Finally, Valmark Advisers Inc. raised its position in Cisco Systems by 4.7% in the 2nd quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after buying an additional 1,820 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased 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. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Jefferies Financial Group lowered 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. Barclays lowered their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Twelve 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.74.

Cisco Systems Stock Up 1.3 %

Shares of NASDAQ CSCO opened at $55.50 on Monday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.06. The business has a 50-day simple moving average of $52.63 and a two-hundred day simple moving average of $49.10. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $221.49 billion, a P/E ratio of 21.85, a P/E/G ratio of 4.54 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. Cisco Systems’s payout ratio is currently 62.99%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s 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 transaction, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Company 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.