NGAM Advisors L.P. cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,743,307 shares of the network equipment provider’s stock after selling 127,344 shares during the period. Cisco Systems accounts for approximately 1.3% of NGAM Advisors L.P.’s investment portfolio, making the stock its 8th biggest holding. NGAM Advisors L.P. owned about 0.07% of Cisco Systems worth $117,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Financial Mangement LLC grew its stake in shares of Cisco Systems by 1.2% in the 2nd quarter. Boston Financial Mangement LLC now owns 74,433 shares of the network equipment provider’s stock valued at $2,330,000 after buying an additional 894 shares during the period. Eastern Bank grew its stake in shares of Cisco Systems by 1.8% in the 2nd quarter. Eastern Bank now owns 117,033 shares of the network equipment provider’s stock valued at $3,664,000 after buying an additional 2,088 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of Cisco Systems by 2.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 247,100 shares of the network equipment provider’s stock valued at $7,734,000 after buying an additional 5,250 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of Cisco Systems by 5.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 41,765 shares of the network equipment provider’s stock valued at $1,307,000 after buying an additional 2,175 shares during the period. Finally, Ferguson Wellman Capital Management Inc. grew its stake in shares of Cisco Systems by 7.0% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 1,984,100 shares of the network equipment provider’s stock valued at $62,103,000 after buying an additional 129,991 shares during the period. Institutional investors own 75.38% of the company’s stock.

In other Cisco Systems news, CEO Charles Robbins sold 121,390 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $3,891,763.40. Following the sale, the chief executive officer now directly owns 552,694 shares in the company, valued at approximately $17,719,369.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction on Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 485,138 shares of company stock worth $15,347,574. 0.11% of the stock is currently owned by insiders.

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Cisco Systems, Inc. (CSCO) opened at 33.26 on Friday. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60. The stock has a 50 day moving average of $32.70 and a 200 day moving average of $32.35. The company has a market cap of $164.70 billion, a PE ratio of 17.51 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. The company had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. Cisco Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. Equities analysts expect that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be issued a $0.29 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.49%. Cisco Systems’s dividend payout ratio is currently 60.73%.

Several analysts have recently commented on the company. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Monday, June 26th. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 target price for the company in a research note on Wednesday, September 6th. Robert W. Baird restated a “buy” rating and issued a $38.00 target price on shares of Cisco Systems in a research note on Monday, September 11th. Drexel Hamilton restated a “buy” rating and issued a $39.00 target price on shares of Cisco Systems in a research note on Sunday, June 25th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Thursday, August 17th. Fifteen investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $35.30.

Cisco Systems 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).

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

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