Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Fortem Financial Group LLC

Fortem Financial Group LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 35.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,774 shares of the network equipment provider's stock after acquiring an additional 14,135 shares during the quarter. Cisco Systems makes up about 1.2% of Fortem Financial Group LLC's investment portfolio, making the stock its 21st biggest position. Fortem Financial Group LLC's holdings in Cisco Systems were worth $2,862,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lantz Financial LLC increased its stake in Cisco Systems by 1.2% in the 2nd quarter. Lantz Financial LLC now owns 60,993 shares of the network equipment provider's stock worth $2,898,000 after acquiring an additional 736 shares during the last quarter. ORG Partners LLC raised its stake in Cisco Systems by 5,313.7% during the second quarter. ORG Partners LLC now owns 9,095 shares of the network equipment provider's stock valued at $432,000 after purchasing an additional 8,927 shares in the last quarter. PGGM Investments lifted its position in Cisco Systems by 6.3% during the second quarter. PGGM Investments now owns 44,698 shares of the network equipment provider's stock valued at $2,124,000 after purchasing an additional 2,641 shares during the last quarter. Corundum Group Inc. grew its stake in shares of Cisco Systems by 44.1% in the 2nd quarter. Corundum Group Inc. now owns 28,575 shares of the network equipment provider's stock worth $1,358,000 after buying an additional 8,745 shares in the last quarter. Finally, Red Door Wealth Management LLC increased its holdings in shares of Cisco Systems by 7.4% in the 2nd quarter. Red Door Wealth Management LLC now owns 128,506 shares of the network equipment provider's stock worth $6,105,000 after buying an additional 8,862 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Down 0.2 %

Shares of NASDAQ:CSCO traded down $0.13 during trading hours on Wednesday, hitting $58.59. The company's stock had a trading volume of 25,738,512 shares, compared to its average volume of 19,095,840. The firm's fifty day moving average price is $56.77 and its 200 day moving average price is $51.14. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23. The company has a market capitalization of $233.35 billion, a price-to-earnings ratio of 25.18, a P/E/G ratio of 4.39 and a beta of 0.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.98 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.73%. Cisco Systems's dividend payout ratio (DPR) is 68.67%.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems 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 owns 783,786 shares of the company's stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,860 shares of company stock worth $20,231,558 in the last ninety days. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on CSCO shares. Jefferies Financial Group lowered their price target on shares of Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Rosenblatt Securities lifted their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a report on Thursday, August 15th. Evercore ISI boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, September 20th. Morgan Stanley raised their price target on Cisco Systems from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Finally, Bank of America boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. 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. According to data from MarketBeat, the stock currently has an average 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.