Cisco Systems, Inc. (CSCO) Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 84,711 shares of the network equipment provider’s stock after selling 2,016 shares during the period. Cisco Systems makes up approximately 1.0% of Hanson & Doremus Investment Management’s holdings, making the stock its 19th largest position. Hanson & Doremus Investment Management’s holdings in Cisco Systems were worth $2,849,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. Blue Chip Partners Inc. raised its holdings in Cisco Systems by 5.5% in the 1st quarter. Blue Chip Partners Inc. now owns 190,043 shares of the network equipment provider’s stock valued at $6,423,000 after acquiring an additional 9,915 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Cisco Systems by 15.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 202,723 shares of the network equipment provider’s stock valued at $6,852,000 after acquiring an additional 27,444 shares in the last quarter. Financial Advisory Service Inc. raised its holdings in Cisco Systems by 0.8% in the 1st quarter. Financial Advisory Service Inc. now owns 13,610 shares of the network equipment provider’s stock valued at $460,000 after acquiring an additional 114 shares in the last quarter. Holderness Investments Co. raised its holdings in Cisco Systems by 12.1% in the 1st quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock valued at $2,256,000 after acquiring an additional 7,186 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its holdings in Cisco Systems by 13.0% in the 1st quarter. State of Wisconsin Investment Board now owns 5,050,110 shares of the network equipment provider’s stock valued at $170,694,000 after acquiring an additional 582,720 shares in the last quarter. 75.55% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on CSCO. Vetr upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective on the stock in a research note on Wednesday, December 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $40.00 price objective on shares of Cisco Systems in a research note on Thursday, December 14th. Sanford C. Bernstein reiterated a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research note on Monday, November 27th. Robert W. Baird reiterated a “buy” rating and issued a $41.00 price objective on shares of Cisco Systems in a research note on Tuesday, December 5th. Finally, UBS Group reiterated a “buy” rating and issued a $39.00 price objective on shares of Cisco Systems in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $37.35.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $38.30 on Monday. The company has a market capitalization of $189,340.72, a P/E ratio of 19.84, a P/E/G ratio of 3.46 and a beta of 1.20. Cisco Systems, Inc. has a 12-month low of $29.80 and a 12-month high of $38.99. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The business had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. Cisco Systems’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 EPS. analysts anticipate that Cisco Systems, Inc. will post 2.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.03%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.

In other Cisco Systems news, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the transaction, the senior vice president now directly owns 257,476 shares in the company, valued at approximately $9,892,227.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roderick C. Mcgeary sold 15,230 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the transaction, the director now owns 113,154 shares in the company, valued at $4,299,852. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is owned by corporate insiders.

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Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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