Fmr LLC Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

FMR LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,931,461 shares of the network equipment provider's stock after purchasing an additional 5,885,879 shares during the quarter. FMR LLC owned approximately 1.60% of Cisco Systems worth $3,402,432,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CSCO. Aviso Wealth Management boosted its holdings in Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock worth $405,000 after purchasing an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC grew its holdings in shares of Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock worth $346,000 after purchasing an additional 182 shares in the last quarter. Andina Capital Management LLC lifted its stake in Cisco Systems by 3.6% during the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock worth $279,000 after purchasing an additional 182 shares during the last quarter. Wealth Dimensions Group Ltd. grew its holdings in shares of Cisco Systems by 1.6% during the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider's stock valued at $605,000 after purchasing an additional 182 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its holdings in Cisco Systems by 3.8% during the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider's stock valued at $267,000 after buying an additional 185 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

NASDAQ CSCO traded up $0.78 during trading hours on Tuesday, reaching $59.52. The stock had a trading volume of 8,148,300 shares, compared to its average volume of 19,203,500. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a fifty day moving average of $55.17 and a 200 day moving average of $50.24. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.52. The stock has a market cap of $237.05 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 4.37 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating 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 return on equity of 25.70% and a net margin of 17.73%. Cisco Systems's revenue for the quarter 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. Sell-side analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, January 3rd. Cisco Systems's dividend payout ratio is currently 68.67%.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company's stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 342,858 shares of company stock worth $19,661,157. Insiders own 0.01% of the company's stock.

Analyst Ratings Changes

CSCO has been the topic of several recent research reports. JPMorgan Chase & Co. raised Cisco Systems from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. StockNews.com raised Cisco Systems from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a research note on Thursday, August 15th. Jefferies Financial Group cut their price objective on Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a "strong-buy" rating in a report on Friday, August 16th. Ten equities research 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.94.

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.