Migdal Insurance & Financial Holdings Ltd. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 39.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 306,769 shares of the network equipment provider’s stock after selling 197,182 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Cisco Systems were worth $10,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barnett & Company Inc. increased its holdings in shares of Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after acquiring an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC increased its holdings in shares of Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after acquiring an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in shares of Cisco Systems in the 2nd quarter valued at about $104,000. Grove Bank & Trust increased its holdings in shares of Cisco Systems by 141.3% in the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 2,120 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in shares of Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 75.59% of the company’s stock.

In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the insider now directly owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Karen Walker sold 5,786 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $211,131.14. Following the sale, the senior vice president now directly owns 176,418 shares of the company’s stock, valued at $6,437,492.82. The disclosure for this sale can be found here. Insiders have sold a total of 348,643 shares of company stock valued at $12,892,271 over the last ninety days. 0.05% of the stock is owned by insiders.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $41.66 on Tuesday. Cisco Systems, Inc. has a 1 year low of $30.08 and a 1 year high of $41.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. The firm has a market capitalization of $205,950.00, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 3.73 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The company had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. equities analysts predict that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a yield of 2.78%. Cisco Systems’s payout ratio is 60.10%.

A number of research analysts have recently commented on the company. KeyCorp reiterated an “overweight” rating and issued a $43.00 price objective (up previously from $39.00) on shares of Cisco Systems in a report on Friday. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Barclays increased their price objective on Cisco Systems from $37.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, January 17th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $44.00 price objective on shares of Cisco Systems in a report on Wednesday, January 10th. Finally, BidaskClub upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.80.

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About Cisco Systems

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).

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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