Foundry Partners LLC Makes New $15.91 Million Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Foundry Partners LLC purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 298,975 shares of the network equipment provider's stock, valued at approximately $15,911,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider's stock valued at $36,847,000 after buying an additional 288,775 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider's stock valued at $12,573,000 after acquiring an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider's stock valued at $88,261,000 after purchasing an additional 162,544 shares during the period. Quintet Private Bank Europe S.A. raised its stake in Cisco Systems by 17.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider's stock worth $33,830,000 after buying an additional 92,179 shares during the last quarter. Finally, IRON Financial LLC acquired a new position in Cisco Systems in the third quarter valued at $856,000. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSCO. StockNews.com upgraded Cisco Systems from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Barclays lifted their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. Jefferies Financial Group cut their price target on Cisco Systems from $56.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. Citigroup boosted their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, HSBC raised shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their target price for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $59.94.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $57.50 on Thursday. 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 company's fifty day moving average price is $54.68 and its 200-day moving average price is $50.00. The stock has a market cap of $229.47 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38.

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 analysts' consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the business's stock in a transaction on Friday, November 15th. The stock was 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 in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems 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 completion of the sale, the senior vice president now owns 46,017 shares of the company's stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 321,628 shares of company stock worth $18,449,561. 0.01% of the stock is owned by corporate insiders.

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.

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