Swiss National Bank lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,700,493 shares of the network equipment provider’s stock after purchasing an additional 144,500 shares during the quarter. Cisco Systems accounts for approximately 0.7% of Swiss National Bank’s holdings, making the stock its 24th largest position. Swiss National Bank owned approximately 377,651.94% of Cisco Systems worth $628,898,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares in the last quarter. Nordea Investment Management AB boosted its stake in Cisco Systems by 12.1% during the second quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock valued at $982,703,000 after buying an additional 3,384,768 shares in the last quarter. Boston Partners boosted its stake in Cisco Systems by 1.1% during the third quarter. Boston Partners now owns 30,401,385 shares of the network equipment provider’s stock valued at $1,022,399,000 after buying an additional 329,474 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in Cisco Systems by 11.6% during the second quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock valued at $862,949,000 after buying an additional 2,863,474 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Cisco Systems by 0.5% during the second quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock valued at $859,293,000 after buying an additional 134,162 shares in the last quarter. 75.64% of the stock is owned by institutional investors.
Shares of Cisco Systems, Inc. (CSCO) traded up $0.76 on Friday, reaching $39.53. The company’s stock had a trading volume of 47,947,702 shares, compared to its average volume of 27,140,000. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 52-week low of $30.36 and a 52-week high of $42.98. The company has a market cap of $195,420.00, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 3.55 and a beta of 1.23.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion during 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 business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.61 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.16 annualized dividend and a dividend yield of 2.93%. Cisco Systems’s dividend payout ratio (DPR) is currently 60.10%.
In related news, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the insider now directly owns 712,736 shares of the company’s stock, valued at $26,014,864. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of Cisco Systems stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the sale, the senior vice president now directly owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock valued at $12,892,271 over the last three months. Insiders own 0.05% of the company’s stock.
Several research analysts recently weighed in on the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $44.00 target price on shares of Cisco Systems in a research note on Wednesday, January 10th. Vetr raised Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $44.13 target price for the company in a research note on Monday. Berenberg Bank reaffirmed a “hold” rating and set a $33.00 target price on shares of Cisco Systems in a research note on Tuesday, October 24th. Citigroup reaffirmed a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a research note on Thursday, November 16th. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $32.00 target price on shares of Cisco Systems in a research note on Monday, October 23rd. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $39.54.
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About Cisco Systems
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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