Ifrah Financial Services Inc. trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,510 shares of the network equipment provider’s stock after selling 559 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Cisco Systems were worth $1,409,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its stake in shares of Cisco Systems by 1,546.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock worth $2,642,650,000 after acquiring an additional 45,351,980 shares during the period. Fisher Asset Management LLC increased its holdings in Cisco Systems by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 30,517,061 shares of the network equipment provider’s stock worth $1,507,848,000 after purchasing an additional 839,300 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in Cisco Systems by 2.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 18,929,924 shares of the network equipment provider’s stock worth $1,036,035,000 after purchasing an additional 478,368 shares in the last quarter. First Trust Advisors LP increased its holdings in Cisco Systems by 155.6% in the 3rd quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock worth $862,012,000 after purchasing an additional 10,621,798 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Cisco Systems by 10.5% in the 2nd quarter. AQR Capital Management LLC now owns 16,527,442 shares of the network equipment provider’s stock worth $904,547,000 after purchasing an additional 1,573,540 shares in the last quarter. Hedge funds and other institutional investors own 73.27% of the company’s stock.

Shares of CSCO traded up $0.41 on Friday, reaching $48.83. 14,406,400 shares of the company’s stock traded hands, compared to its average volume of 20,421,934. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The stock has a market cap of $202.69 billion, a PE ratio of 17.13, a PEG ratio of 2.30 and a beta of 1.28. The stock’s 50 day simple moving average is $47.56 and its two-hundred day simple moving average is $52.07. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $58.26.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. The company had revenue of $13.43 billion during the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. Cisco Systems’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $0.70 earnings per share. Analysts forecast that Cisco Systems, Inc. will post 3.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Thursday, October 3rd. Cisco Systems’s payout ratio is 49.12%.

A number of brokerages have issued reports on CSCO. Raymond James reaffirmed an “overweight” rating on shares of Cisco Systems in a report on Friday, August 16th. UBS Group set a $58.00 price target on Cisco Systems and gave the stock a “buy” rating in a research note on Thursday, August 15th. Citigroup lowered their price objective on Cisco Systems from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Evercore ISI initiated coverage on Cisco Systems in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Goldman Sachs Group downgraded Cisco Systems from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $56.00 to $48.00 in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $55.92.

In related news, CEO Charles Robbins sold 18,955 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.04, for a total transaction of $948,508.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Goeckeler sold 70,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $49.22, for a total value of $3,445,400.00. Following the sale, the executive vice president now directly owns 429,398 shares of the company’s stock, valued at $21,134,969.56. The disclosure for this sale can be found here. Insiders have sold 193,130 shares of company stock valued at $9,359,179 over the last ninety days. 0.03% of the stock is currently owned by company insiders.

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 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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