Becker Capital Management Inc. Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Becker Capital Management Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 874,035 shares of the network equipment provider’s stock after selling 4,481 shares during the period. Cisco Systems accounts for 2.0% of Becker Capital Management Inc.’s portfolio, making the stock its 6th largest holding. Becker Capital Management Inc.’s holdings in Cisco Systems were worth $47,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Charles Schwab Investment Management Inc. grew its stake in Cisco Systems by 6.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 47,599,481 shares of the network equipment provider’s stock valued at $2,522,774,000 after acquiring an additional 3,002,815 shares in the last quarter. Lokken Investment Group LLC grew its stake in Cisco Systems by 7.4% during the second quarter. Lokken Investment Group LLC now owns 14,500 shares of the network equipment provider’s stock valued at $768,000 after acquiring an additional 999 shares in the last quarter. Fiera Capital Corp purchased a new position in Cisco Systems during the second quarter valued at $1,557,000. Public Sector Pension Investment Board grew its stake in Cisco Systems by 59.2% during the second quarter. Public Sector Pension Investment Board now owns 660,620 shares of the network equipment provider’s stock valued at $35,013,000 after acquiring an additional 245,657 shares in the last quarter. Finally, Eudaimonia Partners LLC grew its stake in Cisco Systems by 6.4% during the second quarter. Eudaimonia Partners LLC now owns 54,376 shares of the network equipment provider’s stock valued at $2,882,000 after acquiring an additional 3,291 shares in the last quarter. Institutional investors and hedge funds own 71.75% of the company’s stock.

In related news, SVP Prat Bhatt sold 468 shares of Cisco Systems stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $58.35, for a total transaction of $27,307.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.02% of the company’s stock.

CSCO traded up $0.24 on Thursday, reaching $55.54. 19,324,937 shares of the company traded hands, compared to its average volume of 18,948,041. Cisco Systems, Inc. has a one year low of $42.21 and a one year high of $60.27. The firm has a fifty day simple moving average of $55.81 and a two-hundred day simple moving average of $55.24. The company has a market cap of $234.25 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 2.48 and a beta of 0.92. The company has a quick ratio of 1.54, a current ratio of 1.62 and a debt-to-equity ratio of 0.21.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Tuesday, November 16th. The network equipment provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Cisco Systems had a net margin of 22.44% and a return on equity of 30.59%. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 27th. Investors of record on Tuesday, October 5th were issued a dividend of $0.37 per share. The ex-dividend date was Monday, October 4th. This represents a $1.48 dividend on an annualized basis and a yield of 2.66%. Cisco Systems’s payout ratio is 55.02%.

CSCO has been the subject of several research analyst reports. JMP Securities reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, September 16th. MKM Partners lifted their price objective on shares of Cisco Systems from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, September 20th. JPMorgan Chase & Co. set a $70.00 price objective on shares of Cisco Systems in a research note on Thursday, September 16th. Finally, Barclays lifted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, August 19th. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.24.

Cisco Systems Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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

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