Gabelli Funds LLC Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Gabelli Funds LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,110 shares of the network equipment provider’s stock after selling 890 shares during the period. Gabelli Funds LLC’s holdings in Cisco Systems were worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. bought a new stake in Cisco Systems in the third quarter worth about $27,000. Fortis Capital Advisors LLC purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $34,000. Spotlight Asset Group Inc. purchased a new position in shares of Cisco Systems during the second quarter worth approximately $41,000. Hibernia Wealth Partners LLC purchased a new position in shares of Cisco Systems during the third quarter worth approximately $42,000. Finally, VitalStone Financial LLC purchased a new position in shares of Cisco Systems during the second quarter worth approximately $45,000. Institutional investors own 72.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CSCO. Raymond James lowered shares of Cisco Systems from a “market perform” rating to an “underperform” rating in a research report on Monday, October 30th. New Street Research lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, November 16th. Melius lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, January 8th. DZ Bank lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Friday, November 17th. Finally, Melius Research reissued a “hold” rating and set a $55.00 price objective on shares of Cisco Systems in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.21.

View Our Latest Report on CSCO

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 106,321 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $50.02, for a total transaction of $5,318,176.42. Following the completion of the transaction, the chief financial officer now directly owns 345,994 shares in the company, valued at $17,306,619.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, Director Mark Garrett sold 899 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $47.88, for a total value of $43,044.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 106,321 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $50.02, for a total transaction of $5,318,176.42. Following the completion of the transaction, the chief financial officer now owns 345,994 shares of the company’s stock, valued at approximately $17,306,619.88. The disclosure for this sale can be found here. Insiders sold 150,475 shares of company stock worth $7,464,194 over the last three months. Company insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 0.4 %

NASDAQ:CSCO opened at $50.13 on Friday. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The firm has a fifty day simple moving average of $50.19 and a 200-day simple moving average of $52.22. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $203.70 billion, a P/E ratio of 15.15, a PEG ratio of 2.37 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.91 by $0.20. The business had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.38 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Thursday, January 4th were given a dividend of $0.39 per share. The ex-dividend date was Wednesday, January 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 3.11%. Cisco Systems’s dividend payout ratio is presently 47.13%.

Cisco Systems Company Profile

(Free Report)

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.

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

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