Advisors Capital Management LLC lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 29.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 375,899 shares of the network equipment provider’s stock after selling 156,673 shares during the period. Cisco Systems comprises about 1.2% of Advisors Capital Management LLC’s portfolio, making the stock its 13th largest holding. Advisors Capital Management LLC’s holdings in Cisco Systems were worth $16,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Bank of New York Mellon Corp lifted its holdings in Cisco Systems by 193,168.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock valued at $5,095,693,000 after purchasing an additional 104,687,754 shares during the last quarter. Man Group plc increased its holdings in shares of Cisco Systems by 412.1% in the third quarter. Man Group plc now owns 3,063,334 shares of the network equipment provider’s stock valued at $149,032,000 after purchasing an additional 2,465,161 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Cisco Systems by 11.9% in the third quarter. Fisher Asset Management LLC now owns 20,099,819 shares of the network equipment provider’s stock valued at $977,856,000 after purchasing an additional 2,129,952 shares during the last quarter. Royal London Asset Management Ltd. bought a new position in shares of Cisco Systems in the second quarter valued at about $90,333,000. Finally, Rehmann Capital Advisory Group raised its position in shares of Cisco Systems by 4,016.5% in the third quarter. Rehmann Capital Advisory Group now owns 1,901,239 shares of the network equipment provider’s stock valued at $3,057,143,000 after purchasing an additional 1,855,053 shares during the period. 69.13% of the stock is owned by institutional investors.

In other news, Director Roderick C. Mcgeary sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $49.66, for a total value of $744,900.00. Following the completion of the transaction, the director now directly owns 102,898 shares in the company, valued at approximately $5,109,914.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Goeckeler sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the sale, the executive vice president now directly owns 419,439 shares of the company’s stock, valued at approximately $21,840,188.73. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock worth $5,926,000 over the last quarter. Corporate insiders own 0.03% of the company’s stock.

A number of research firms have recently issued reports on CSCO. KeyCorp raised their target price on shares of Cisco Systems from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Bank of America restated a “buy” rating and set a $56.00 price objective on shares of Cisco Systems in a research report on Thursday, February 14th. MKM Partners upped their target price on Cisco Systems to $54.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Credit Suisse Group increased their target price on Cisco Systems from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. Finally, Morgan Stanley cut Cisco Systems from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $51.00 to $49.00 in a report on Tuesday, February 12th. Seven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $53.49.

NASDAQ:CSCO opened at $55.18 on Wednesday. The firm has a market cap of $265.98 billion, a PE ratio of 23.58, a P/E/G ratio of 2.87 and a beta of 1.22. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $55.80. The company has a quick ratio of 1.74, a current ratio of 1.80 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The company had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Cisco Systems had a return on equity of 27.58% and a net margin of 25.31%. Cisco Systems’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.63 earnings per share. On average, research analysts expect that Cisco Systems, Inc. will post 2.75 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 13th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.54%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, April 4th. Cisco Systems’s dividend payout ratio is presently 59.83%.

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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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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