Cerity Partners LLC Has $129.63 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Cerity Partners LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,435,685 shares of the network equipment provider’s stock after buying an additional 158,418 shares during the quarter. Cerity Partners LLC’s holdings in Cisco Systems were worth $129,627,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Aviso Wealth Management increased its stake in Cisco Systems by 2.4% in the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after acquiring an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC grew its holdings in shares of Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares in the last quarter. Andina Capital Management LLC increased its position in shares of Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after purchasing an additional 182 shares during the last quarter. Meridian Financial Partners LLC raised its stake in Cisco Systems by 3.8% in the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after purchasing an additional 185 shares in the last quarter. Finally, Gleason Group Inc. lifted its position in Cisco Systems by 0.9% during the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock valued at $1,207,000 after purchasing an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $58.55 on Friday. The company’s fifty day moving average price is $55.02 and its 200-day moving average price is $50.13. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The company has a market capitalization of $233.19 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 4.28 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.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 of the company’s stock, 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 90 days, insiders have sold 342,858 shares of company stock valued at $19,661,157. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research analyst reports. Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Wells Fargo & Company lifted their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.94.

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.