Cullen Capital Management LLC Sells 107,310 Shares of Cisco Systems, Inc. (CSCO)

Cullen Capital Management LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,403,725 shares of the network equipment provider’s stock after selling 107,310 shares during the quarter. Cisco Systems accounts for 2.6% of Cullen Capital Management LLC’s portfolio, making the stock its 11th largest position. Cullen Capital Management LLC’s holdings in Cisco Systems were worth $75,237,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CSCO. Richard Bernstein Advisors LLC increased its stake in Cisco Systems by 21.2% in the 2nd quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after purchasing an additional 47,211 shares during the period. Stratos Wealth Partners LTD. increased its stake in Cisco Systems by 10.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after purchasing an additional 14,395 shares during the period. Eads & Heald Investment Counsel increased its stake in Cisco Systems by 15.7% in the 2nd quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock worth $1,329,000 after purchasing an additional 5,765 shares during the period. Washington Trust Bank increased its stake in Cisco Systems by 2.5% in the 2nd quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock worth $3,542,000 after purchasing an additional 2,726 shares during the period. Finally, Holderness Investments Co. increased its stake in Cisco Systems by 12.1% in the 1st quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after purchasing an additional 7,186 shares during the period. Institutional investors own 75.78% of the company’s stock.

Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $37.91 on Wednesday. The firm has a market capitalization of $185,929.63, a price-to-earnings ratio of 17.33, a P/E/G ratio of 3.40 and a beta of 1.19. Cisco Systems, Inc. has a 12 month low of $29.80 and a 12 month high of $38.10. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. analysts predict that Cisco Systems, Inc. will post 2.21 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a $0.29 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.16 annualized dividend and a yield of 3.06%. Cisco Systems’s payout ratio is 60.10%.

In other Cisco Systems news, CAO Prat Bhatt sold 2,606 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the sale, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at $3,254,324.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the sale, the insider now directly owns 712,736 shares in the company, valued at $26,014,864. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 323,392 shares of company stock worth $11,539,174. 0.05% of the stock is owned by insiders.

A number of equities analysts have commented on CSCO shares. Drexel Hamilton reaffirmed a “buy” rating and issued a $39.00 price target on shares of Cisco Systems in a research note on Tuesday, August 15th. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price target on the stock. in a research note on Wednesday, August 16th. BidaskClub raised Cisco Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Stifel Nicolaus set a $34.00 price target on Cisco Systems and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Finally, Cowen reissued an “outperform” rating and set a $39.00 target price on shares of Cisco Systems in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus target price of $36.90.

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Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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