German American Bancorp Inc. Increases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

German American Bancorp Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 149,990 shares of the network equipment provider’s stock after purchasing an additional 4,657 shares during the period. Cisco Systems comprises 1.3% of German American Bancorp Inc.’s holdings, making the stock its 21st largest holding. German American Bancorp Inc.’s holdings in Cisco Systems were worth $8,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CSCO. Amundi purchased a new position in Cisco Systems during the 2nd quarter worth $1,003,475,000. Nordea Investment Management AB lifted its position in Cisco Systems by 86.8% during the 3rd quarter. Nordea Investment Management AB now owns 38,494,781 shares of the network equipment provider’s stock worth $2,143,774,000 after acquiring an additional 17,891,357 shares during the period. Invesco Ltd. lifted its position in Cisco Systems by 35.5% during the 2nd quarter. Invesco Ltd. now owns 26,114,890 shares of the network equipment provider’s stock worth $1,384,088,000 after acquiring an additional 6,840,387 shares during the period. Dodge & Cox lifted its position in Cisco Systems by 15.6% during the 2nd quarter. Dodge & Cox now owns 47,579,326 shares of the network equipment provider’s stock worth $2,521,704,000 after acquiring an additional 6,426,193 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in Cisco Systems by 29.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 26,330,977 shares of the network equipment provider’s stock worth $1,395,542,000 after acquiring an additional 5,949,585 shares during the period. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Shares of CSCO stock traded down $0.29 during trading hours on Friday, reaching $61.21. The company had a trading volume of 287,100 shares, compared to its average volume of 20,197,210. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 1.62. The stock has a fifty day moving average of $58.81 and a 200-day moving average of $56.89. The company has a market capitalization of $258.16 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 3.12 and a beta of 0.96. Cisco Systems, Inc. has a 12-month low of $44.15 and a 12-month high of $64.29.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Tuesday, November 16th. The network equipment provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. Cisco Systems had a return on equity of 30.59% and a net margin of 22.44%. The business had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the business earned $0.68 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. On average, analysts forecast that Cisco Systems, Inc. will post 3.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 26th. Investors of record on Wednesday, January 5th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Tuesday, January 4th. Cisco Systems’s dividend payout ratio is presently 55.02%.

In related news, SVP Prat Bhatt sold 12,722 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $54.80, for a total value of $697,165.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 162,959 shares of the company’s stock in a transaction on Wednesday, November 24th. The stock was sold at an average price of $55.45, for a total value of $9,036,076.55. The disclosure for this sale can be found here. Insiders sold 176,149 shares of company stock worth $9,760,545 over the last quarter. 0.02% of the stock is currently owned by insiders.

CSCO has been the subject of a number of research reports. MKM Partners lifted their price target on Cisco Systems from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, September 20th. The Goldman Sachs Group set a $64.00 price target on Cisco Systems in a research report on Thursday, September 16th. Citigroup boosted their price objective on Cisco Systems from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, December 22nd. Credit Suisse Group decreased their price objective on Cisco Systems from $74.00 to $73.00 and set an “outperform” rating for the company in a report on Thursday, November 18th. Finally, JPMorgan Chase & Co. set a $70.00 price target on Cisco Systems in a report on Thursday, September 16th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.94.

Cisco Systems Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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

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