Quintet Private Bank Europe S.A. Has $33.83 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Quintet Private Bank Europe S.A. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 17.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 635,667 shares of the network equipment provider's stock after purchasing an additional 92,179 shares during the period. Cisco Systems comprises 1.9% of Quintet Private Bank Europe S.A.'s investment portfolio, making the stock its 16th biggest position. Quintet Private Bank Europe S.A.'s holdings in Cisco Systems were worth $33,830,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in CSCO. Asset Management One Co. Ltd. increased its stake in Cisco Systems by 4.6% during the third quarter. Asset Management One Co. Ltd. now owns 1,858,447 shares of the network equipment provider's stock worth $98,907,000 after acquiring an additional 82,313 shares during the last quarter. National Pension Service increased its stake in Cisco Systems by 13.4% during the 3rd quarter. National Pension Service now owns 8,383,820 shares of the network equipment provider's stock worth $446,187,000 after buying an additional 988,390 shares during the period. Cohen Capital Management Inc. boosted its holdings in Cisco Systems by 0.7% in the third quarter. Cohen Capital Management Inc. now owns 220,577 shares of the network equipment provider's stock valued at $11,739,000 after purchasing an additional 1,610 shares during the period. Intact Investment Management Inc. lifted its position in shares of Cisco Systems by 9.8% during the 3rd quarter. Intact Investment Management Inc. now owns 325,230 shares of the network equipment provider's stock worth $17,309,000 after buying an additional 28,900 shares during the last quarter. Finally, BSW Wealth Partners boosted its stake in Cisco Systems by 4.4% in the third quarter. BSW Wealth Partners now owns 6,879 shares of the network equipment provider's stock valued at $366,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CSCO shares. Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Jefferies Financial Group reduced their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Evercore ISI boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. HSBC raised shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Hsbc Global Res raised shares of Cisco Systems to a "strong-buy" rating in a report on Friday, August 16th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $56.74.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares of the company's stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares of the company's stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last quarter. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.33 on Monday, reaching $55.83. 13,105,343 shares of the company's stock were exchanged, compared to its average volume of 19,020,594. The firm has a market capitalization of $222.80 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 4.54 and a beta of 0.83. The business's 50-day moving average is $52.73 and its two-hundred day moving average is $49.16. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems's dividend payout ratio is presently 62.99%.

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.