Halsey Associates Inc. CT lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 72,404 shares of the network equipment provider’s stock after selling 10,346 shares during the quarter. Halsey Associates Inc. CT’s holdings in Cisco Systems were worth $3,116,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CSCO. Morgan Stanley raised its position in shares of Cisco Systems by 15.9% during the 2nd quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock valued at $2,192,694,000 after buying an additional 7,009,359 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Cisco Systems in the second quarter valued at approximately $279,790,000. Summit Trail Advisors LLC raised its position in Cisco Systems by 4,313.3% in the first quarter. Summit Trail Advisors LLC now owns 4,814,373 shares of the network equipment provider’s stock valued at $4,814,000 after purchasing an additional 4,705,284 shares during the period. Putnam Investments LLC raised its position in Cisco Systems by 44.9% in the second quarter. Putnam Investments LLC now owns 7,610,821 shares of the network equipment provider’s stock valued at $327,494,000 after purchasing an additional 2,359,159 shares during the period. Finally, Alps Advisors Inc. purchased a new stake in Cisco Systems in the second quarter valued at approximately $78,609,000. 69.52% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CSCO opened at $46.44 on Friday. The firm has a market capitalization of $228.11 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.77 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05. Cisco Systems, Inc. has a 52 week low of $37.35 and a 52 week high of $49.47.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.86 billion. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, January 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.84%. Cisco Systems’s payout ratio is currently 56.41%.

A number of analysts have issued reports on CSCO shares. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Goldman Sachs Group reissued a “buy” rating and issued a $56.00 target price on shares of Cisco Systems in a research report on Thursday, August 16th. BMO Capital Markets boosted their target price on Cisco Systems from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Thursday, August 16th. William Blair reissued an “outperform” rating on shares of Cisco Systems in a research report on Thursday, August 16th. Finally, Cowen boosted their target price on Cisco Systems from $51.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, August 16th. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $50.26.

In related news, SVP Prat Bhatt sold 33,950 shares of the business’s stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $44.86, for a total transaction of $1,522,997.00. Following the completion of the transaction, the senior vice president now owns 90,207 shares in the company, valued at $4,046,686.02. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Irving Tan sold 28,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $48.43, for a total transaction of $1,356,040.00. Following the transaction, the senior vice president now owns 188,853 shares of the company’s stock, valued at approximately $9,146,150.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 586,943 shares of company stock valued at $27,718,423. Insiders own 0.03% of the company’s stock.

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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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