Penserra Capital Management LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Penserra Capital Management LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,233,060 shares of the network equipment provider's stock after selling 151,831 shares during the period. Cisco Systems accounts for 2.5% of Penserra Capital Management LLC's holdings, making the stock its 3rd biggest holding. Penserra Capital Management LLC owned about 0.06% of Cisco Systems worth $137,800,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Cisco Systems in the fourth quarter valued at $3,297,905,000. FMR LLC increased its stake in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in Cisco Systems in the fourth quarter valued at $413,491,000. GAMMA Investing LLC increased its stake in Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after purchasing an additional 6,625,045 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after purchasing an additional 4,880,747 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CSCO. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Rosenblatt Securities boosted their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. KeyCorp initiated coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price for the company. Finally, New Street Research reissued a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,407 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. This represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president owned 174,669 shares in the company, valued at $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 in the last ninety days. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 0.3%

CSCO stock traded down $0.24 during trading on Tuesday, reaching $68.69. The stock had a trading volume of 6,013,482 shares, compared to its average volume of 20,308,836. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company's 50 day moving average is $64.18 and its two-hundred day moving average is $61.58. The company has a market capitalization of $272.01 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 4.15 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

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.