Cim Investment Management Inc. Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cim Investment Management Inc. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,293 shares of the network equipment provider’s stock after selling 272 shares during the quarter. Cim Investment Management Inc.’s holdings in Cisco Systems were worth $814,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

CSCO has been the subject of several research analyst reports. Jefferies Financial Group dropped their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Barclays boosted their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Tigress Financial raised their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Citigroup boosted their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Ten 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares in the company, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 349,894 shares of company stock valued at $20,135,273. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.89 during midday trading on Thursday, hitting $59.48. 1,816,344 shares of the company’s stock were exchanged, compared to its average volume of 19,027,707. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a market cap of $236.89 billion, a P/E ratio of 25.15, a PEG ratio of 4.39 and a beta of 0.85. The stock’s 50 day moving average price is $56.89 and its 200-day moving average price is $51.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio (DPR) is 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.