Swiss National Bank Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Swiss National Bank decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,958,400 shares of the network equipment provider's stock after selling 30,000 shares during the period. Swiss National Bank owned about 0.30% of Cisco Systems worth $636,426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the 2nd quarter worth $25,000. West Financial Advisors LLC boosted its holdings in 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 buying an additional 309 shares in the last quarter. Quarry LP grew its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares during the period. Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the second quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC lifted its position in shares of Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock valued at $42,000 after acquiring an additional 766 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CSCO shares. Evercore ISI upped their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Rosenblatt Securities raised their price target on Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a "strong-buy" rating in a research report on Friday, August 16th. Morgan Stanley raised their target price on shares of Cisco Systems from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Thursday. Finally, HSBC raised shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.42.

Cisco Systems Trading Down 0.8 %

Shares of NASDAQ CSCO traded down $0.46 on Friday, reaching $57.46. 28,173,705 shares of the company traded hands, compared to its average volume of 18,249,024. The stock has a market capitalization of $229.31 billion, a PE ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $54.18 and a 200 day moving average of $49.80.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm 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 revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal 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 given a dividend of $0.40 per share. 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%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company's stock, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares of the company's stock, valued at $6,821,929.52. The trade was a 5.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,924 shares of company stock valued at $1,798,131. Company insiders own 0.01% of the company's stock.

About Cisco Systems

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.