Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Generation Investment Management LLP

Generation Investment Management LLP cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the 1st quarter, Holdings Channel reports. The firm owned 23,254,034 shares of the network equipment provider’s stock after selling 65,022 shares during the quarter. Cisco Systems comprises 5.0% of Generation Investment Management LLP’s portfolio, making the stock its 3rd biggest holding. Generation Investment Management LLP’s holdings in Cisco Systems were worth $1,202,466,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its position in Cisco Systems by 2.2% during the first quarter. BlackRock Inc. now owns 334,979,843 shares of the network equipment provider’s stock worth $17,321,808,000 after purchasing an additional 7,282,145 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cisco Systems by 3.1% during the first quarter. Geode Capital Management LLC now owns 69,440,752 shares of the network equipment provider’s stock worth $3,581,548,000 after buying an additional 2,062,223 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Cisco Systems by 1.3% in the first quarter. Ameriprise Financial Inc. now owns 54,346,309 shares of the network equipment provider’s stock valued at $2,811,048,000 after acquiring an additional 710,318 shares during the period. Norges Bank acquired a new position in shares of Cisco Systems in the fourth quarter valued at about $2,026,921,000. Finally, Nuveen Asset Management LLC increased its position in Cisco Systems by 35.7% during the first quarter. Nuveen Asset Management LLC now owns 44,857,692 shares of the network equipment provider’s stock worth $2,319,591,000 after acquiring an additional 11,791,493 shares during the period. 72.08% of the stock is currently owned by institutional investors.

Cisco Systems stock traded up $0.41 during mid-day trading on Thursday, hitting $54.29. 254,366 shares of the stock were exchanged, compared to its average volume of 14,389,840. The firm has a market capitalization of $228.79 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 3.00 and a beta of 0.91. Cisco Systems, Inc. has a 12 month low of $35.28 and a 12 month high of $55.35. The company has a quick ratio of 1.46, a current ratio of 1.53 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $53.30.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 20.92% and a return on equity of 31.12%. The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.57 billion. During the same period in the prior year, the company posted $0.79 earnings per share. Cisco Systems’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Tuesday, July 6th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, July 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 50.68%.

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 20th. They issued a “hold” rating and a $55.00 price target for the company. William Blair reissued a “market perform” rating on shares of Cisco Systems in a report on Thursday, May 20th. Wolfe Research raised Cisco Systems from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a research note on Friday, April 16th. Raymond James upped their price objective on shares of Cisco Systems from $50.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, May 14th. Finally, DZ Bank reissued a “hold” rating and issued a $51.00 target price on shares of Cisco Systems in a report on Thursday, May 27th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $51.85.

In related news, SVP Prat Bhatt sold 3,829 shares of the business’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $53.50, for a total transaction of $204,851.50. Following the transaction, the senior vice president now owns 106,222 shares in the company, valued at approximately $5,682,877. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 7,584 shares of the stock in a transaction on Wednesday, May 26th. The stock was sold at an average price of $53.11, for a total transaction of $402,786.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,864 shares of company stock valued at $4,186,457. Corporate insiders own 0.02% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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