Convergence Investment Partners LLC Sells 10,364 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Convergence Investment Partners LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,993 shares of the network equipment provider’s stock after selling 10,364 shares during the quarter. Cisco Systems accounts for approximately 1.7% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 11th largest holding. Convergence Investment Partners LLC’s holdings in Cisco Systems were worth $3,233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealthspire Advisors LLC lifted its position in shares of Cisco Systems by 48.1% during the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock worth $3,838,000 after purchasing an additional 23,194 shares during the last quarter. Roble Belko & Company Inc lifted its position in shares of Cisco Systems by 77.1% during the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after purchasing an additional 2,788 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Cisco Systems by 0.5% during the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock worth $3,448,000 after purchasing an additional 301 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Cisco Systems during the fourth quarter worth $28,685,000. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Cisco Systems by 1.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after purchasing an additional 49,700 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Down 0.5 %

NASDAQ CSCO traded down $0.24 during trading on Friday, hitting $47.86. The company’s stock had a trading volume of 14,658,910 shares, compared to its average volume of 16,851,638. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The company has a market cap of $193.79 billion, a PE ratio of 14.55, a P/E/G ratio of 2.76 and a beta of 0.87. The business’s 50 day simple moving average is $48.94 and its 200-day simple moving average is $50.04. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.76 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.13 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.34%. The ex-dividend date was Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is currently 48.63%.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CSCO has been the topic of several research reports. UBS Group raised their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Wells Fargo & Company initiated coverage on Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target on the stock. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Morgan Stanley initiated coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.53.

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.