Industrial Alliance Investment Management Inc. Sells 7,430 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Industrial Alliance Investment Management Inc. trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 81.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,670 shares of the network equipment provider’s stock after selling 7,430 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Cisco Systems were worth $79,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CSCO. Argent Advisors Inc. increased its position in Cisco Systems by 3.2% during the second quarter. Argent Advisors Inc. now owns 35,390 shares of the network equipment provider’s stock worth $1,681,000 after buying an additional 1,096 shares during the last quarter. Vantage Investment Partners LLC boosted its stake in shares of Cisco Systems by 6.1% during the 2nd quarter. Vantage Investment Partners LLC now owns 270,648 shares of the network equipment provider’s stock worth $12,858,000 after acquiring an additional 15,476 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Cisco Systems by 6.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 768,533 shares of the network equipment provider’s stock worth $36,513,000 after acquiring an additional 47,331 shares during the last quarter. Crewe Advisors LLC lifted its holdings in Cisco Systems by 5.2% during the 2nd quarter. Crewe Advisors LLC now owns 9,145 shares of the network equipment provider’s stock valued at $434,000 after purchasing an additional 454 shares during the last quarter. Finally, Scott & Selber Inc. boosted its position in Cisco Systems by 1.7% during the second quarter. Scott & Selber Inc. now owns 69,587 shares of the network equipment provider’s stock worth $3,306,000 after purchasing an additional 1,146 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,944 shares of company stock valued at $3,566,120. 0.02% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.15 on Friday, reaching $50.54. 15,615,277 shares of the stock were exchanged, compared to its average volume of 19,705,105. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The firm has a market cap of $203.62 billion, a PE ratio of 17.02, a P/E/G ratio of 2.97 and a beta of 0.85. The firm’s 50 day moving average is $47.55 and its 200-day moving average is $47.92. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.17%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Oppenheimer raised their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $55.89.

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.