Two Sigma Advisers LP Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Two Sigma Advisers LP cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,371,200 shares of the network equipment provider’s stock after selling 447,800 shares during the period. Cisco Systems accounts for 0.9% of Two Sigma Advisers LP’s portfolio, making the stock its 27th biggest position. Two Sigma Advisers LP’s holdings in Cisco Systems were worth $377,175,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Navigoe LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $30,000. Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $31,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the transaction, the executive vice president now directly owns 200,191 shares in the company, valued at approximately $12,886,294.67. This represents a 5.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,635 shares of company stock valued at $931,901 over the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Down 1.0%

Cisco Systems stock opened at $63.62 on Monday. The company has a market capitalization of $253.10 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The business’s fifty day simple moving average is $58.75 and its two-hundred day simple moving average is $59.72.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 71.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CSCO shares. The Goldman Sachs Group lifted their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Barclays lifted their price target on Cisco Systems from $61.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday. Rosenblatt Securities lifted their price target on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup lifted their price target on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday. Finally, New Street Research restated a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

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.