Capital Asset Advisory Services LLC Reduces Position in Cisco Systems, Inc. (CSCO)

Capital Asset Advisory Services LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 17.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,425 shares of the network equipment provider’s stock after selling 7,285 shares during the quarter. Cisco Systems makes up about 1.1% of Capital Asset Advisory Services LLC’s portfolio, making the stock its 18th biggest position. Capital Asset Advisory Services LLC’s holdings in Cisco Systems were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after acquiring an additional 7,411,891 shares during the last quarter. Nordea Investment Management AB raised its stake in Cisco Systems by 12.1% in the 2nd quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock worth $982,703,000 after acquiring an additional 3,384,768 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Cisco Systems by 11.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock valued at $862,949,000 after buying an additional 2,863,474 shares during the last quarter. LSV Asset Management raised its stake in shares of Cisco Systems by 0.5% during the 2nd quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock valued at $859,293,000 after buying an additional 134,162 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Cisco Systems by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 26,334,633 shares of the network equipment provider’s stock valued at $824,310,000 after buying an additional 618,346 shares during the last quarter. 75.59% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Rebecca Jacoby sold 75,021 shares of the firm’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total value of $2,882,306.82. Following the transaction, the senior vice president now owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Karen Walker sold 5,786 shares of Cisco Systems stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $211,131.14. Following the sale, the senior vice president now directly owns 176,418 shares in the company, valued at approximately $6,437,492.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is currently owned by insiders.

A number of equities analysts have weighed in on the company. KeyCorp reiterated an “overweight” rating and set a $43.00 price objective (up previously from $39.00) on shares of Cisco Systems in a research note on Friday. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Barclays raised their target price on Cisco Systems from $37.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $44.00 price objective on shares of Cisco Systems in a report on Wednesday, January 10th. Finally, BidaskClub upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and an average target price of $38.80.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $41.66 on Tuesday. Cisco Systems, Inc. has a 1 year low of $30.08 and a 1 year high of $41.66. The stock has a market cap of $205,950.00, a P/E ratio of 21.59, a P/E/G ratio of 3.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. Cisco Systems’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. analysts forecast that Cisco Systems, Inc. will post 2.21 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Thursday, January 4th. Cisco Systems’s dividend payout ratio is currently 60.10%.

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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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