Gotham Asset Management LLC Trims Stake in Cisco Systems, Inc. (CSCO)

Gotham Asset Management LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 30.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,721,187 shares of the network equipment provider’s stock after selling 770,611 shares during the quarter. Cisco Systems accounts for 0.7% of Gotham Asset Management LLC’s holdings, making the stock its 11th biggest position. Gotham Asset Management LLC’s holdings in Cisco Systems were worth $58,176,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Boston Partners boosted its position in Cisco Systems by 304.2% during the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after acquiring an additional 23,002,159 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Cisco Systems by 3.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 16,445,753 shares of the network equipment provider’s stock worth $555,867,000 after acquiring an additional 506,489 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Cisco Systems by 0.7% during the 1st quarter. Fisher Asset Management LLC now owns 15,693,906 shares of the network equipment provider’s stock worth $530,454,000 after purchasing an additional 108,056 shares in the last quarter. Pioneer Investment Management Inc. raised its stake in shares of Cisco Systems by 5.2% during the 1st quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock worth $279,146,000 after purchasing an additional 408,875 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Cisco Systems by 0.8% during the 1st quarter. Jupiter Asset Management Ltd. now owns 7,420,522 shares of the network equipment provider’s stock worth $250,814,000 after purchasing an additional 55,395 shares in the last quarter. 74.70% of the stock is owned by hedge funds and other institutional investors.

CSCO has been the topic of a number of analyst reports. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price objective on the stock. in a research note on Wednesday, August 30th. Jefferies Group LLC reiterated a “buy” rating and set a $37.00 price objective on shares of Cisco Systems in a research note on Friday, May 26th. Credit Suisse Group reiterated an “outperform” rating on shares of Cisco Systems in a research note on Thursday, August 31st. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research note on Monday, July 3rd. Finally, Robert W. Baird reiterated a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a research note on Monday, September 11th. Fourteen analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.57.

In related news, CEO Charles Robbins sold 121,390 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the completion of the transaction, the chief executive officer now owns 552,694 shares of the company’s stock, valued at approximately $17,719,369.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders sold a total of 420,138 shares of company stock valued at $13,239,624 in the last three months. Corporate insiders own 0.11% of the company’s stock.

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Shares of Cisco Systems, Inc. (CSCO) traded up 0.78% during midday trading on Friday, reaching $32.44. The company’s stock had a trading volume of 29,336,087 shares. The stock has a 50-day moving average price of $31.66 and a 200-day moving average price of $32.46. The stock has a market cap of $160.64 billion, a price-to-earnings ratio of 17.07 and a beta of 1.19. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is currently 60.73%.

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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