Rockefeller Capital Management L.P. Has $89.65 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Rockefeller Capital Management L.P. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,684,865 shares of the network equipment provider's stock after selling 10,264 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Cisco Systems were worth $89,653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Summit Securities Group LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at approximately $25,000. West Financial Advisors LLC raised its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Quarry LP lifted its stake in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at $40,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems in the 2nd quarter valued at $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CSCO. UBS Group upped their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a "strong-buy" rating in a research report on Friday, August 16th. Finally, Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Ten investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.94.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 339,479 shares of company stock worth $19,490,991. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 0.1 %

Cisco Systems stock traded down $0.08 during mid-day trading on Friday, hitting $59.21. 11,617,270 shares of the stock were exchanged, compared to its average volume of 19,172,246. The stock has a market capitalization of $235.82 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 4.42 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.87. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm's fifty day simple moving average is $55.68 and its two-hundred day simple moving average is $50.45.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the firm earned $0.98 earnings per share. Cisco Systems's quarterly revenue was down 5.6% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.70%. Cisco Systems's dividend payout ratio is currently 68.67%.

Cisco Systems Profile

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.