Tallon Kerry Patrick Buys Shares of 10,200 Cisco Systems, Inc. (NASDAQ:CSCO)

Tallon Kerry Patrick purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,200 shares of the network equipment provider's stock, valued at approximately $603,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp raised its stake in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC raised its stake in Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider's stock valued at $5,075,320,000 after buying an additional 1,262,017 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cisco Systems by 2.1% during the 3rd 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 buying an additional 1,677,383 shares during the last quarter. FMR LLC grew its position in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider's stock valued at $2,261,185,000 after acquiring 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 Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 58,188 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 transaction of $3,345,228.12. Following the sale, the executive vice president now directly owns 219,100 shares of the company's stock, valued at $12,596,059. The trade was a 20.98 % 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. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 in the last quarter. Insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSCO. UBS Group raised their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Citigroup boosted their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the company a "buy" rating in a research report on Friday. StockNews.com raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Finally, Barclays increased their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus target price of $61.50.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.41 on Friday, hitting $60.23. The company had a trading volume of 23,800,968 shares, compared to its average volume of 18,142,955. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.95. The company has a market cap of $239.88 billion, a PE ratio of 25.85, a PEG ratio of 4.37 and a beta of 0.84. The business has a 50-day simple moving average of $58.87 and a 200-day simple moving average of $53.43. 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 posted 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. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company's quarterly revenue was down 5.6% compared to the same quarter last year. Research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.66%. Cisco Systems's dividend payout ratio (DPR) is 68.67%.

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.