Fisher Asset Management LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,099,819 shares of the network equipment provider’s stock after purchasing an additional 2,129,952 shares during the quarter. Cisco Systems accounts for approximately 1.2% of Fisher Asset Management LLC’s portfolio, making the stock its 19th largest position. Fisher Asset Management LLC owned about 0.42% of Cisco Systems worth $977,856,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Franklin Street Advisors Inc. NC boosted its holdings in shares of Cisco Systems by 0.3% in the 3rd quarter. Franklin Street Advisors Inc. NC now owns 443,229 shares of the network equipment provider’s stock worth $21,563,000 after buying an additional 1,131 shares during the last quarter. Hemenway Trust Co LLC boosted its holdings in shares of Cisco Systems by 1.0% in the 3rd quarter. Hemenway Trust Co LLC now owns 117,243 shares of the network equipment provider’s stock worth $5,704,000 after buying an additional 1,132 shares during the last quarter. Forbes J M & Co. LLP boosted its holdings in shares of Cisco Systems by 0.5% in the 2nd quarter. Forbes J M & Co. LLP now owns 217,760 shares of the network equipment provider’s stock worth $9,370,000 after buying an additional 1,163 shares during the last quarter. Optimum Investment Advisors boosted its holdings in shares of Cisco Systems by 1.3% in the 3rd quarter. Optimum Investment Advisors now owns 93,657 shares of the network equipment provider’s stock worth $4,556,000 after buying an additional 1,183 shares during the last quarter. Finally, Intl Fcstone Inc. boosted its holdings in shares of Cisco Systems by 8.7% in the 3rd quarter. Intl Fcstone Inc. now owns 15,027 shares of the network equipment provider’s stock worth $731,000 after buying an additional 1,202 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.
A number of brokerages recently weighed in on CSCO. Nomura downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Friday, December 14th. Wolfe Research started coverage on shares of Cisco Systems in a report on Tuesday, December 11th. They issued an “outperform” rating on the stock. Robert W. Baird reaffirmed an “outperform” rating and set a $53.00 price objective on shares of Cisco Systems in a report on Thursday, November 29th. Raymond James upped their price objective on shares of Cisco Systems from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 15th. Finally, KeyCorp upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, November 15th. Eight investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $51.05.
In other Cisco Systems news, EVP Mark D. Chandler sold 4,373 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $44.89, for a total value of $196,303.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prat Bhatt sold 33,950 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $44.86, for a total value of $1,522,997.00. Following the completion of the sale, the senior vice president now directly owns 90,207 shares of the company’s stock, valued at approximately $4,046,686.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,067 shares of company stock valued at $7,804,662. 0.03% of the stock is owned by insiders.
Shares of CSCO opened at $43.49 on Friday. The company has a market capitalization of $208.69 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.54 and a beta of 1.15. The company has a quick ratio of 2.05, a current ratio of 2.11 and a debt-to-equity ratio of 0.42. Cisco Systems, Inc. has a 1 year low of $37.35 and a 1 year high of $49.47.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. Cisco Systems’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Friday, January 4th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.04%. The ex-dividend date is Thursday, January 3rd. Cisco Systems’s dividend payout ratio is currently 56.41%.
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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 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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