Tudor Financial Inc. Takes $1.10 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Tudor Financial Inc. purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,615 shares of the network equipment provider's stock, valued at approximately $1,097,000.

Other large investors have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider's stock worth $36,847,000 after purchasing an additional 288,775 shares during the last quarter. Morse Asset Management Inc acquired a new stake in Cisco Systems in the 3rd quarter worth approximately $798,000. Citizens Financial Group Inc. RI lifted its holdings in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider's stock worth $12,573,000 after purchasing an additional 51,924 shares during the last quarter. HighVista Strategies LLC acquired a new stake in Cisco Systems in the 3rd quarter worth approximately $1,698,000. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider's stock worth $88,261,000 after purchasing an additional 162,544 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

NASDAQ:CSCO traded up $0.26 during trading hours on Thursday, reaching $58.85. The company had a trading volume of 17,488,188 shares, compared to its average volume of 19,093,742. The stock has a 50-day moving average of $56.89 and a two-hundred day moving average of $51.19. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The firm has a market capitalization of $234.39 billion, a PE ratio of 25.15, a PEG ratio of 4.39 and a beta of 0.85. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating 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 firm had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The business's revenue was down 5.6% compared to the same quarter last year. Analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

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

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the 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 in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. The trade was a 19.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 349,894 shares of company stock worth $20,135,273. Insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

CSCO has been the subject of several analyst reports. Morgan Stanley boosted their target price on Cisco Systems from $58.00 to $62.00 and gave the stock an "overweight" 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 for the company in a report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price target for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. upgraded Cisco Systems from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Finally, StockNews.com upgraded Cisco Systems from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.