Donaldson Capital Management LLC Sells 589,834 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Donaldson Capital Management LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 87.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,078 shares of the network equipment provider’s stock after selling 589,834 shares during the quarter. Donaldson Capital Management LLC’s holdings in Cisco Systems were worth $4,688,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its stake in shares of Cisco Systems by 226.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after buying an additional 18,339 shares during the period. United Community Bank increased its position in Cisco Systems by 4.3% during the 1st quarter. United Community Bank now owns 52,843 shares of the network equipment provider’s stock valued at $2,637,000 after purchasing an additional 2,165 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Cisco Systems by 6.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,545,940 shares of the network equipment provider’s stock worth $77,158,000 after purchasing an additional 93,653 shares in the last quarter. Wellington Shields & Co. LLC lifted its position in shares of Cisco Systems by 3.8% in the 1st quarter. Wellington Shields & Co. LLC now owns 29,921 shares of the network equipment provider’s stock worth $1,493,000 after purchasing an additional 1,084 shares during the period. Finally, Easterly Investment Partners LLC boosted its stake in shares of Cisco Systems by 29.5% during the 1st quarter. Easterly Investment Partners LLC now owns 457,840 shares of the network equipment provider’s stock valued at $22,851,000 after purchasing an additional 104,317 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CSCO shares. Evercore ISI lifted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Rosenblatt Securities increased their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.00 to $58.00 in a report on Friday, August 16th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Finally, Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $56.74.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $55.50 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market cap of $221.49 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 4.54 and a beta of 0.83. The business has a 50-day simple moving average of $52.63 and a two-hundred day simple moving average of $49.10. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. 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 previous year, the company earned $1.01 earnings per share. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. On average, analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 62.99%.

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 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.