866,475 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by Raiffeisen Bank International AG

Raiffeisen Bank International AG bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 866,475 shares of the network equipment provider’s stock, valued at approximately $51,287,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth approximately $26,000. Navigoe LLC acquired a new stake in Cisco Systems during the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the 4th quarter valued at $30,000. Campbell Capital Management Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter valued at $31,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth $36,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $61.29 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market cap of $243.83 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The firm has a fifty day moving average price of $58.65 and a two-hundred day moving average price of $59.54. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.05. The business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. During the same period in the previous year, the business posted $0.88 earnings per share. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.68%. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems announced that its Board of Directors has approved a share buyback program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Rosenblatt Securities raised their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $72.00 to $75.00 in a report on Thursday. Evercore ISI lowered their price objective on shares of Cisco Systems from $75.00 to $67.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. The Goldman Sachs Group increased their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, UBS Group upped their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.79.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at $11,604,868.80. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,547 shares of company stock valued at $4,275,553. Company insiders own 0.01% of the company’s stock.

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.