Vision Capital Management Inc. Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Vision Capital Management Inc. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 71.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,892 shares of the network equipment provider’s stock after selling 15,080 shares during the quarter. Vision Capital Management Inc.’s holdings in Cisco Systems were worth $349,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Morse Asset Management Inc purchased a new position in shares of Cisco Systems in the 3rd quarter worth about $798,000. HighVista Strategies LLC purchased a new position in shares of Cisco Systems in the 3rd quarter worth about $1,698,000. GAMMA Investing LLC boosted its holdings in shares of Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after buying an additional 10,813 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Cisco Systems in the 3rd quarter worth about $502,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CSCO shares. UBS Group boosted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Tigress Financial boosted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Bank of America boosted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company boosted their price objective 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. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $62.72.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the sale, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 2.0 %

CSCO stock opened at $62.57 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $59.52 and its 200 day moving average is $54.77. The stock has a market cap of $249.20 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $62.71.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. Sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

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.