Jennison Associates LLC Increases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Jennison Associates LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,547,956 shares of the network equipment provider's stock after acquiring an additional 150,539 shares during the quarter. Jennison Associates LLC owned approximately 0.09% of Cisco Systems worth $188,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in shares of Cisco Systems during the 3rd quarter worth approximately $1,529,000. West Family Investments Inc. grew its position in shares of Cisco Systems by 1.8% in the 3rd quarter. West Family Investments Inc. now owns 24,372 shares of the network equipment provider's stock worth $1,297,000 after buying an additional 428 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Cisco Systems during the 3rd quarter valued at about $38,033,000. Banque Cantonale Vaudoise increased its stake in shares of Cisco Systems by 13.5% during the third quarter. Banque Cantonale Vaudoise now owns 375,894 shares of the network equipment provider's stock valued at $20,004,000 after purchasing an additional 44,766 shares in the last quarter. Finally, Wrapmanager Inc. lifted its holdings in shares of Cisco Systems by 26.8% during the third quarter. Wrapmanager Inc. now owns 30,868 shares of the network equipment provider's stock valued at $1,643,000 after purchasing an additional 6,526 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 0.9 %

Shares of CSCO traded up $0.49 during mid-day trading on Wednesday, hitting $57.50. The company's stock had a trading volume of 12,229,569 shares, compared to its average volume of 19,106,359. 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 capitalization of $229.47 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 4.67 and a beta of 0.83. The company's 50-day moving average is $54.52 and its 200-day moving average is $49.95. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. StockNews.com raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. HSBC raised Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Tigress Financial raised their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Citigroup lifted their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.94.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 58,188 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the transaction, the executive vice president now directly owns 219,100 shares of the company's stock, valued at $12,596,059. The trade was a 20.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,628 shares of company stock valued at $18,449,561. Insiders own 0.01% of the company's stock.

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.