Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,348 shares of the network equipment provider’s stock after purchasing an additional 313 shares during the quarter. Griffin Asset Management Inc.’s holdings in Cisco Systems were worth $417,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after acquiring an additional 2,663,676 shares during the period. Roble Belko & Company Inc lifted its position in Cisco Systems by 77.1% during the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock valued at $324,000 after purchasing an additional 2,788 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Cisco Systems during the 4th quarter worth about $28,685,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Cisco Systems by 1.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after buying an additional 49,700 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of Cisco Systems by 0.6% in the 4th quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after buying an additional 1,097 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of several analyst reports. Morgan Stanley assumed coverage on Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Barclays lifted their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. Finally, Citigroup started coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.47.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $47.51 on Friday. The stock has a market capitalization of $191.41 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85. The firm has a 50-day simple moving average of $47.06 and a 200-day simple moving average of $48.79. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is currently owned by company insiders.

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.