Diligent Investors LLC Acquires 311 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Diligent Investors LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,050 shares of the network equipment provider’s stock after acquiring an additional 311 shares during the quarter. Diligent Investors LLC’s holdings in Cisco Systems were worth $1,682,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CSCO. Nuveen Asset Management LLC grew its position in shares of Cisco Systems by 1,546.1% in the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after purchasing an additional 45,351,980 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Cisco Systems by 4.4% in the second quarter. Fisher Asset Management LLC now owns 29,677,761 shares of the network equipment provider’s stock valued at $1,624,264,000 after purchasing an additional 1,253,256 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Cisco Systems by 2.6% in the second quarter. UBS Asset Management Americas Inc. now owns 18,929,924 shares of the network equipment provider’s stock valued at $1,036,035,000 after purchasing an additional 478,368 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Cisco Systems by 10.5% in the second quarter. AQR Capital Management LLC now owns 16,527,442 shares of the network equipment provider’s stock valued at $904,547,000 after purchasing an additional 1,573,540 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Cisco Systems by 0.3% in the second quarter. California Public Employees Retirement System now owns 13,909,185 shares of the network equipment provider’s stock valued at $761,250,000 after purchasing an additional 44,733 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Several equities analysts recently commented on the company. Robert W. Baird set a $54.00 target price on Cisco Systems and gave the stock a “buy” rating in a research report on Friday, September 13th. Cowen dropped their price target on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Royal Bank of Canada dropped their price target on Cisco Systems from $64.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. MKM Partners dropped their price target on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, Goldman Sachs Group lowered Cisco Systems from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $56.00 to $48.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.96.

NASDAQ CSCO opened at $46.96 on Thursday. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $58.26. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $48.09 and a 200-day moving average of $52.76. The firm has a market cap of $201.86 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same quarter in the previous year, the company posted $0.70 EPS. Cisco Systems’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Thursday, October 3rd. Cisco Systems’s payout ratio is 49.12%.

In other Cisco Systems news, EVP David Goeckeler sold 70,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the completion of the transaction, the executive vice president now owns 429,398 shares of the company’s stock, valued at approximately $21,134,969.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark D. Chandler sold 10,733 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $50.05, for a total value of $537,186.65. The disclosure for this sale can be found here. Insiders have sold a total of 193,130 shares of company stock valued at $9,359,179 in the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

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 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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