Sequoia Financial Advisors LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 52,295 shares of the network equipment provider’s stock after acquiring an additional 970 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cisco Systems were worth $2,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Neville Rodie & Shaw Inc. lifted its holdings in Cisco Systems by 6.3% in the second quarter. Neville Rodie & Shaw Inc. now owns 69,516 shares of the network equipment provider’s stock valued at $3,805,000 after acquiring an additional 4,100 shares during the period. Bath Savings Trust Co lifted its holdings in Cisco Systems by 1.7% in the second quarter. Bath Savings Trust Co now owns 21,082 shares of the network equipment provider’s stock valued at $1,153,000 after acquiring an additional 356 shares during the period. Private Trust Co. NA lifted its holdings in Cisco Systems by 0.4% in the second quarter. Private Trust Co. NA now owns 74,379 shares of the network equipment provider’s stock valued at $4,070,000 after acquiring an additional 315 shares during the period. Baystate Wealth Management LLC lifted its holdings in Cisco Systems by 2.0% in the second quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock valued at $600,000 after acquiring an additional 202 shares during the period. Finally, Dorsey Wright & Associates lifted its holdings in Cisco Systems by 557.4% in the second quarter. Dorsey Wright & Associates now owns 40,735 shares of the network equipment provider’s stock valued at $2,229,000 after acquiring an additional 34,539 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems stock traded up $0.35 during midday trading on Tuesday, reaching $47.75. 4,159,075 shares of the company were exchanged, compared to its average volume of 19,609,664. The company has a market capitalization of $198.30 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 2.26 and a beta of 1.28. The firm’s 50-day simple moving average is $48.07 and its 200-day simple moving average is $52.84. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $58.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Thursday, October 3rd. Cisco Systems’s dividend payout ratio is presently 49.12%.

CSCO has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their target price on Cisco Systems from $64.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Nomura raised their price target on Cisco Systems from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Robert W. Baird set a $54.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Friday, September 13th. Barclays began coverage on Cisco Systems in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 price target for the company. Finally, Morgan Stanley dropped their price target on Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $55.96.

In related news, EVP Mark D. Chandler sold 10,733 shares of Cisco Systems stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.05, for a total transaction of $537,186.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total value of $3,270,400.00. Following the completion of the sale, the chief financial officer now owns 277,548 shares of the company’s stock, valued at approximately $12,967,042.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 193,130 shares of company stock valued at $9,359,179. 0.03% of the stock is currently owned by company insiders.

Cisco Systems Profile

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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