DLK Investment Management LLC Sells 1,685 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

DLK Investment Management LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,063 shares of the network equipment provider’s stock after selling 1,685 shares during the period. Cisco Systems accounts for 1.6% of DLK Investment Management LLC’s investment portfolio, making the stock its 27th biggest position. DLK Investment Management LLC’s holdings in Cisco Systems were worth $3,911,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CSCO. State Street Corp raised its stake in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after acquiring an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Cisco Systems by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares in the last quarter. FMR LLC raised its position in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after purchasing an additional 1,530,468 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Charles Robbins sold 171,744 shares of the 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 $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $60.23 on Monday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.95. The stock has a market cap of $239.88 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84. The stock’s 50 day simple moving average is $58.91 and its two-hundred day simple moving average is $53.57. 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 issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Analyst Ratings Changes

CSCO has been the subject of a number of recent research reports. UBS Group boosted their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Barclays increased their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Citigroup boosted their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Finally, Wells Fargo & Company boosted their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

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.