Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by APG Asset Management US Inc.

APG Asset Management US Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 602,493 shares of the network equipment provider’s stock after selling 73,798 shares during the period. APG Asset Management US Inc.’s holdings in Cisco Systems were worth $28,630,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Swedbank AB purchased a new position in Cisco Systems during the first quarter worth approximately $840,538,000. FIL Ltd raised its stake in shares of Cisco Systems by 47.1% during the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after buying an additional 6,054,748 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Natixis lifted its position in shares of Cisco Systems by 438.4% during the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after buying an additional 4,010,228 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Cisco Systems by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after acquiring an additional 3,314,330 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Evercore ISI raised their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Jefferies Financial Group cut their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.00.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $52.65 on Thursday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.58. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $210.11 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. The business has a fifty day moving average of $48.72 and a two-hundred day moving average of $48.08.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.04%. Cisco Systems’s payout ratio is currently 53.87%.

About Cisco Systems

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.