Loomis Sayles & Co. L P Sells 138,638 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Loomis Sayles & Co. L P lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 95.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,439 shares of the network equipment provider’s stock after selling 138,638 shares during the period. Loomis Sayles & Co. L P’s holdings in Cisco Systems were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the period. Pathway Financial Advisers LLC increased its position in shares of Cisco Systems by 5,231.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after buying an additional 4,842,542 shares in the last quarter. International Assets Investment Management LLC raised its stake in Cisco Systems by 4,524.9% during the 3rd quarter. International Assets Investment Management LLC now owns 2,087,369 shares of the network equipment provider’s stock worth $1,110,900,000 after buying an additional 2,042,236 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in shares of Cisco Systems by 58.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 4,706,885 shares of the network equipment provider’s stock valued at $250,500,000 after purchasing an additional 1,733,663 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $59.29 on Friday. The stock has a market cap of $236.14 billion, a PE ratio of 25.45, a P/E/G ratio of 4.38 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a 50-day moving average of $55.68 and a 200-day moving average of $50.45. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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 analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business’s revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSCO. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Tigress Financial upped their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup lifted their price target on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley upped their price objective on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.94.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 339,479 shares of company stock valued at $19,490,991. 0.01% of the stock is owned by company insiders.

Cisco Systems Company 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.