Equity Investment Corp Has $56.71 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Equity Investment Corp trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,122,565 shares of the network equipment provider’s stock after selling 28,334 shares during the period. Equity Investment Corp’s holdings in Cisco Systems were worth $56,712,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Panagora Asset Management Inc. increased its holdings in Cisco Systems by 49.4% during the 3rd quarter. Panagora Asset Management Inc. now owns 160,729 shares of the network equipment provider’s stock valued at $8,641,000 after purchasing an additional 53,138 shares in the last quarter. Allworth Financial LP increased its holdings in Cisco Systems by 6.8% during the 3rd quarter. Allworth Financial LP now owns 110,496 shares of the network equipment provider’s stock valued at $5,940,000 after purchasing an additional 7,066 shares in the last quarter. Baron Wealth Management LLC increased its holdings in Cisco Systems by 16.5% during the 3rd quarter. Baron Wealth Management LLC now owns 6,354 shares of the network equipment provider’s stock valued at $342,000 after purchasing an additional 902 shares in the last quarter. New Mexico Educational Retirement Board increased its holdings in Cisco Systems by 6.8% during the 3rd quarter. New Mexico Educational Retirement Board now owns 213,074 shares of the network equipment provider’s stock valued at $11,455,000 after purchasing an additional 13,500 shares in the last quarter. Finally, Tower Bridge Advisors boosted its position in Cisco Systems by 0.3% in the 3rd quarter. Tower Bridge Advisors now owns 180,024 shares of the network equipment provider’s stock valued at $9,678,000 after buying an additional 543 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 0.4 %

CSCO stock traded down $0.17 during trading on Friday, hitting $48.17. The company had a trading volume of 22,020,305 shares, compared to its average volume of 18,663,308. The business has a 50-day moving average of $48.69 and a 200-day moving average of $49.52. Cisco Systems, Inc. has a one year low of $45.70 and a one year high of $58.19. The stock has a market cap of $195.05 billion, a PE ratio of 16.22, a PEG ratio of 2.79 and a beta of 0.87. The company has a current ratio of 0.89, a quick ratio of 1.26 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,441 shares of company stock worth $972,080. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CSCO. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research report on Monday, May 13th. Finally, Oppenheimer lifted their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and an average target price of $56.47.

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.