Geode Capital Management LLC Acquires 1,262,017 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Geode Capital Management LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,630,469 shares of the network equipment provider's stock after acquiring an additional 1,262,017 shares during the period. Geode Capital Management LLC owned approximately 2.40% of Cisco Systems worth $5,075,320,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp increased its stake in Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock worth $10,297,506,000 after buying an additional 3,241,682 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Cisco Systems by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider's stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Cisco Systems by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider's stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares during the last quarter. FMR LLC grew its stake in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider's stock worth $2,261,185,000 after purchasing an additional 1,530,468 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company's stock, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were 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 approximately $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,860 shares of company stock worth $20,231,558. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded down $0.23 during midday trading on Tuesday, reaching $58.72. 14,445,026 shares of the company's stock were exchanged, compared to its average volume of 19,045,088. 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 company's 50 day simple moving average is $56.65 and its two-hundred day simple moving average is $51.05. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23. The firm has a market capitalization of $233.87 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 4.46 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced 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. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to analysts' expectations of $13.78 billion. During the same quarter last year, the company earned $0.98 earnings per share. The company's revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems's payout ratio is presently 68.67%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a report on Thursday, August 15th. Needham & Company LLC reiterated a "hold" rating on shares of Cisco Systems in a research note on Thursday, August 15th. HSBC upgraded Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Hsbc Global Res upgraded Cisco Systems to a "strong-buy" rating in a report on Friday, August 16th. Finally, Piper Sandler raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $59.94.

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.