Sun Life Financial INC Buys 48,167 Shares of Cisco Systems, Inc. (CSCO)

Sun Life Financial INC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1,877.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,732 shares of the network equipment provider’s stock after acquiring an additional 48,167 shares during the quarter. Sun Life Financial INC’s holdings in Cisco Systems were worth $2,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Summit Trail Advisors LLC grew its holdings in shares of Cisco Systems by 4,313.3% during the first quarter. Summit Trail Advisors LLC now owns 4,814,373 shares of the network equipment provider’s stock valued at $4,814,000 after buying an additional 4,705,284 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Cisco Systems by 1.1% during the first quarter. BlackRock Inc. now owns 339,004,547 shares of the network equipment provider’s stock valued at $14,539,904,000 after buying an additional 3,630,488 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Cisco Systems by 61.0% during the first quarter. OppenheimerFunds Inc. now owns 9,183,708 shares of the network equipment provider’s stock valued at $393,888,000 after buying an additional 3,479,165 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of Cisco Systems during the second quarter valued at $78,609,000. Finally, KBC Group NV grew its holdings in shares of Cisco Systems by 81.4% during the second quarter. KBC Group NV now owns 3,801,073 shares of the network equipment provider’s stock valued at $163,560,000 after buying an additional 1,705,640 shares in the last quarter. Institutional investors and hedge funds own 71.67% of the company’s stock.

In other Cisco Systems news, Chairman Charles Robbins sold 217,420 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $47.28, for a total value of $10,279,617.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $3,304,000.00. Following the completion of the sale, the chief financial officer now directly owns 720,930 shares of the company’s stock, valued at approximately $34,027,896. The disclosure for this sale can be found here. Insiders sold 450,620 shares of company stock valued at $21,322,282 in the last ninety days. Insiders own 0.03% of the company’s stock.



A number of research analysts have recently weighed in on the company. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Deutsche Bank lifted their price target on Cisco Systems from $55.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cisco Systems in a report on Thursday. Credit Suisse Group set a $44.00 price target on Cisco Systems and gave the company a “hold” rating in a report on Thursday. Finally, Raymond James lifted their price target on Cisco Systems from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.49.

CSCO opened at $46.77 on Friday. The firm has a market cap of $217.37 billion, a P/E ratio of 19.99, a PEG ratio of 2.66 and a beta of 1.11. Cisco Systems, Inc. has a 1 year low of $35.81 and a 1 year high of $49.47. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter last year, the firm earned $0.61 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts predict that Cisco Systems, Inc. will post 2.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were given a $0.33 dividend. The ex-dividend date was Thursday, October 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.82%. Cisco Systems’s dividend payout ratio is currently 56.41%.

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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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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