Cisco Systems, Inc. (CSCO) Shares Sold by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 827,737 shares of the network equipment provider’s stock after selling 4,235 shares during the period. Cisco Systems accounts for approximately 0.8% of Xact Kapitalforvaltning AB’s investment portfolio, making the stock its 26th biggest holding. Xact Kapitalforvaltning AB’s holdings in Cisco Systems were worth $25,908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CSCO. Financial Management Professionals Inc. raised its position in shares of Cisco Systems by 17.7% during the 1st quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock worth $118,000 after acquiring an additional 635 shares in the last quarter. Watermark Asset Management Inc. acquired a new stake in shares of Cisco Systems during the 1st quarter worth about $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Cisco Systems by 15.0% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after acquiring an additional 560 shares in the last quarter. Baystate Wealth Management LLC raised its position in shares of Cisco Systems by 24.5% during the 1st quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after acquiring an additional 1,484 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. raised its position in shares of Cisco Systems by 23.1% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after acquiring an additional 823 shares in the last quarter. 74.70% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Karen Walker sold 23,110 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the completion of the sale, the senior vice president now owns 192,774 shares in the company, valued at $6,180,334.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. Insiders sold 420,138 shares of company stock valued at $13,239,624 in the last 90 days. Corporate insiders own 0.11% of the company’s stock.

Several research analysts have commented on the company. Drexel Hamilton reaffirmed a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a research report on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $36.00 price target on shares of Cisco Systems in a research report on Monday, June 26th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price target on the stock in a research report on Wednesday, September 6th. Robert W. Baird reaffirmed a “buy” rating and set a $38.00 price target on shares of Cisco Systems in a research report on Monday, September 11th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research report on Thursday, August 17th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $35.57.

Cisco Systems, Inc. (NASDAQ:CSCO) traded up 0.78% during trading on Friday, reaching $32.44. The company had a trading volume of 29,336,087 shares. The stock has a market cap of $160.64 billion, a PE 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. The company has a 50-day moving average price of $31.66 and a 200 day moving average price of $32.46.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders 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 dividend yield of 3.58%. Cisco Systems’s payout ratio is currently 60.73%.

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Cisco Systems Company 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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