Swiss National Bank Has $636.43 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Swiss National Bank reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,958,400 shares of the network equipment provider’s stock after selling 30,000 shares during the quarter. Swiss National Bank’s holdings in Cisco Systems were worth $636,426,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Cisco Systems during the second quarter worth $25,000. Quarry LP raised its stake in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC grew its holdings in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter worth $36,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after purchasing an additional 766 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The trade was a 5.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at $14,659,200. This trade represents a 7.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,924 shares of company stock worth $1,798,131 in the last ninety days. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Down 0.8 %

NASDAQ CSCO opened at $57.46 on Friday. The firm has a market cap of $229.31 billion, a P/E ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.83. The stock’s 50-day moving average is $54.18 and its 200-day moving average is $49.78. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the company earned $1.01 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CSCO shares. Citigroup increased their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday. Barclays raised their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on 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 report on Thursday, August 15th. Finally, Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $59.42.

Cisco Systems 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.