BNP Paribas trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 16.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,598 shares of the network equipment provider's stock after selling 17,850 shares during the period. BNP Paribas' holdings in Cisco Systems were worth $4,871,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Aviso Wealth Management raised its position in shares of Cisco Systems by 2.4% in the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock worth $405,000 after acquiring an additional 181 shares in the last quarter. Waypoint Capital Advisors LLC grew its stake in Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock worth $346,000 after purchasing an additional 182 shares during the period. Andina Capital Management LLC lifted its stake in Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock valued at $279,000 after buying an additional 182 shares during the period. Wealth Dimensions Group Ltd. boosted its holdings in shares of Cisco Systems by 1.6% during the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider's stock worth $605,000 after buying an additional 182 shares in the last quarter. Finally, Meridian Financial Partners LLC increased its stake in shares of Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider's stock valued at $267,000 after acquiring an additional 185 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.
Insider Buying and Selling
In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares of the company's stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were 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. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 339,479 shares of company stock valued at $19,490,991. Company insiders own 0.01% of the company's stock.
Cisco Systems Stock Performance
Shares of NASDAQ:CSCO traded down $0.30 during mid-day trading on Wednesday, reaching $59.29. The company had a trading volume of 12,699,205 shares, compared to its average volume of 19,205,246. The company's 50-day moving average price is $55.35 and its 200-day moving average price is $50.32. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.87. The firm has a market cap of $236.14 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 4.38 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.
Cisco Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, January 3rd. Cisco Systems's payout ratio is currently 68.67%.
Wall Street Analyst Weigh In
CSCO has been the topic of several research analyst reports. Evercore ISI increased their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Friday, September 20th. StockNews.com raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Jefferies Financial Group cut their price target on Cisco Systems from $56.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. Citigroup upped their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Finally, Morgan Stanley lifted their price target on shares of Cisco Systems from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.94.
View Our Latest Stock Analysis on CSCO
About Cisco Systems
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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.
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