First Heartland Consultants Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 26.7% in the third quarter, HoldingsChannel reports. The firm owned 4,674 shares of the network equipment provider’s stock after selling 1,704 shares during the quarter. First Heartland Consultants Inc.’s holdings in Cisco Systems were worth $227,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CSCO. Bank of New York Mellon Corp grew its holdings in Cisco Systems by 193,168.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock worth $5,095,693,000 after acquiring an additional 104,687,754 shares during the period. Morgan Stanley boosted its position in shares of Cisco Systems by 15.9% during the second quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock worth $2,192,694,000 after purchasing an additional 7,009,359 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Cisco Systems by 1.0% during the third quarter. Loomis Sayles & Co. L P now owns 23,312,087 shares of the network equipment provider’s stock worth $1,134,133,000 after purchasing an additional 230,344 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Cisco Systems by 11.9% during the third quarter. Fisher Asset Management LLC now owns 20,099,819 shares of the network equipment provider’s stock worth $977,856,000 after purchasing an additional 2,129,952 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Cisco Systems by 2.8% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,712,576 shares of the network equipment provider’s stock worth $764,417,000 after purchasing an additional 432,802 shares in the last quarter. 68.13% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on the stock. Argus reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Cisco Systems in a research report on Tuesday, January 15th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $52.00) on shares of Cisco Systems in a research report on Wednesday, February 13th. Raymond James boosted their price objective on shares of Cisco Systems from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, November 15th. Wolfe Research assumed coverage on shares of Cisco Systems in a research report on Tuesday, December 11th. They issued an “outperform” rating on the stock. Finally, Credit Suisse Group boosted their price objective on shares of Cisco Systems from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $53.36.

In other news, EVP David Goeckeler sold 30,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the transaction, the executive vice president now directly owns 419,439 shares in the company, valued at approximately $21,840,188.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Michele Burns sold 4,744 shares of the business’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $44.06, for a total transaction of $209,020.64. Following the transaction, the director now owns 74,164 shares in the company, valued at $3,267,665.84. The disclosure for this sale can be found here. Insiders have sold a total of 119,744 shares of company stock worth $6,135,021 over the last three months. Insiders own 0.03% of the company’s stock.

Shares of NASDAQ:CSCO opened at $52.74 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.74 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a one year low of $40.19 and a one year high of $52.96. The stock has a market cap of $253.35 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.72 and a beta of 1.22.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The firm had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.43 billion. During the same period in the previous year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 2.65%. Cisco Systems’s payout ratio is 56.41%.

Cisco Systems declared that its board has authorized a stock repurchase program on Wednesday, February 13th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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