Point72 Hong Kong Ltd acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 47,768 shares of the network equipment provider's stock, valued at approximately $2,269,000.
Several other large investors also recently modified their holdings of CSCO. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Cisco Systems by 1,096.2% in 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. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Cisco Systems by 59.3% during the second 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 period. Marcum Wealth LLC lifted its holdings in Cisco Systems by 4.0% during the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider's stock worth $1,215,000 after purchasing an additional 943 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake 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 valued at $12,573,000 after purchasing an additional 51,924 shares during the period. Finally, Inscription Capital LLC boosted its stake in Cisco Systems by 49.4% in the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider's stock valued at $2,300,000 after purchasing an additional 15,198 shares during the period. 73.33% of the stock is owned by institutional investors.
In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares of the company's stock, valued at $2,258,974.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares of the company's stock, valued at approximately $8,181,307.80. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last 90 days. Insiders own 0.02% of the company's stock.
A number of research firms have recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Barclays decreased their target price on shares of Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 15th. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Finally, New Street Research raised Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $55.00.
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Shares of NASDAQ CSCO opened at $52.65 on Thursday. The company has a market cap of $210.11 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 4.11 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $54.58. The stock has a 50-day moving average price of $48.72 and a two-hundred day moving average price of $48.08.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm's revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems's dividend payout ratio (DPR) is 53.87%.
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.
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