OVERSEA CHINESE BANKING Corp Ltd Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd has reduced its holdings in Cisco Systems, Inc. by 53.6%, now owning 22,061 shares valued at approximately $1.36 million.
• Various institutional investors have been actively changing their stakes in Cisco, with Glass Jacobson Investment Advisors increasing its holdings by 8.7% during the last quarter.
• Cisco Systems announced a quarterly dividend of $0.41 per share, yielding 2.4%, with a dividend payout ratio of 66.94% as of the last quarter.

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 53.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,061 shares of the network equipment provider's stock after selling 25,509 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Cisco Systems were worth $1,361,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. FMR LLC lifted its holdings in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Northern Trust Corp grew its position in Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after acquiring an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cisco Systems by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after acquiring an additional 2,637,006 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after acquiring an additional 681,555 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Cisco Systems by 12.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,161,261 shares of the network equipment provider's stock valued at $1,015,948,000 after acquiring an additional 1,943,563 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of Cisco Systems stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president owned 181,186 shares in the company, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer owned 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 in the last 90 days. 0.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. KeyCorp assumed coverage on Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Citigroup increased their price target on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, New Street Research reissued a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.55.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $0.73 during midday trading on Tuesday, hitting $67.76. The stock had a trading volume of 2,232,838 shares, compared to its average volume of 21,060,736. The company has a market capitalization of $268.32 billion, a PE ratio of 27.63, a P/E/G ratio of 3.76 and a beta of 0.91. The stock has a 50 day simple moving average of $66.98 and a 200-day simple moving average of $62.81. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 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.

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 the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a dividend of $0.41 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

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.