HighVista Strategies LLC Makes New $1.70 Million Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

HighVista Strategies LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 31,900 shares of the network equipment provider's stock, valued at approximately $1,698,000.

Other hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems in the second quarter valued at $25,000. Quarry LP lifted its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems in the second quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems in the third quarter valued at $40,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 344,360 shares of company stock worth $19,782,533. Company insiders own 0.01% of the company's stock.

Cisco Systems Trading Up 0.1 %

Shares of CSCO traded up $0.05 during midday trading on Tuesday, hitting $59.48. The stock had a trading volume of 11,741,929 shares, compared to its average volume of 19,098,613. The business has a 50-day simple moving average of $55.83 and a two-hundred day simple moving average of $50.54. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.87. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a market cap of $236.89 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 4.41 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems's quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is 68.67%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Citigroup boosted their price objective on Cisco Systems from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Evercore ISI increased their target price on Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Finally, New Street Research upgraded Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus target price of $59.94.

Cisco Systems 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.