Bayesian Capital Management LP decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 64.8% during the first quarter, HoldingsChannel reports. The firm owned 39,900 shares of the network equipment provider’s stock after selling 73,400 shares during the period. Bayesian Capital Management LP’s holdings in Cisco Systems were worth $1,711,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Keeler Thomas Management LLC bought a new position in Cisco Systems in the 4th quarter worth about $108,000. Certified Advisory Corp bought a new position in Cisco Systems in the 4th quarter worth about $116,000. Trustcore Financial Services LLC increased its stake in Cisco Systems by 143.5% in the 1st quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock worth $141,000 after acquiring an additional 1,941 shares during the last quarter. Smart Portfolios LLC bought a new position in Cisco Systems in the 1st quarter worth about $146,000. Finally, Stelac Advisory Services LLC bought a new position in Cisco Systems in the 1st quarter worth about $149,000. 73.40% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on the company. Piper Jaffray Companies set a $50.00 target price on Cisco Systems and gave the stock a “buy” rating in a research note on Monday, July 9th. Zacks Investment Research lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Credit Suisse Group upped their target price on Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday. BidaskClub lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, BMO Capital Markets upped their target price on Cisco Systems from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $47.58.

In related news, EVP David Goeckeler sold 35,000 shares of the stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the completion of the sale, the executive vice president now directly owns 490,458 shares in the company, valued at approximately $21,222,117.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.05% of the company’s stock.

Shares of Cisco Systems stock opened at $45.87 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.28 and a current ratio of 2.34. The stock has a market cap of $210.91 billion, a PE ratio of 21.33, a PEG ratio of 2.64 and a beta of 1.07. Cisco Systems, Inc. has a 12 month low of $30.36 and a 12 month high of $46.37.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 EPS. research analysts forecast that Cisco Systems, Inc. will post 2.34 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 25th. Stockholders of record on Friday, July 6th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, July 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.88%. Cisco Systems’s dividend payout ratio (DPR) is presently 61.40%.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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

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