Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Redwood Financial Network Corp

Redwood Financial Network Corp grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 8.4% in the third quarter, Holdings Channel reports. The institutional investor owned 8,948 shares of the network equipment provider’s stock after purchasing an additional 691 shares during the period. Redwood Financial Network Corp’s holdings in Cisco Systems were worth $358,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in Cisco Systems by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock valued at $2,975,139,000 after acquiring an additional 3,087,294 shares during the last quarter. Dodge & Cox increased its position in shares of Cisco Systems by 0.9% during the second quarter. Dodge & Cox now owns 47,111,072 shares of the network equipment provider’s stock worth $2,008,816,000 after purchasing an additional 408,930 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Cisco Systems by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 36,134,446 shares of the network equipment provider’s stock valued at $1,540,775,000 after purchasing an additional 611,068 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Cisco Systems by 1.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 28,721,956 shares of the network equipment provider’s stock valued at $1,224,704,000 after purchasing an additional 340,905 shares during the period. Finally, Nordea Investment Management AB increased its position in Cisco Systems by 17.8% during the second quarter. Nordea Investment Management AB now owns 18,888,034 shares of the network equipment provider’s stock worth $797,830,000 after buying an additional 2,859,583 shares during the period. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CSCO shares. Morgan Stanley increased their price objective on Cisco Systems from $48.00 to $52.00 and gave the company an “equal weight” rating in a report on Tuesday, December 13th. Cowen raised their price objective on shares of Cisco Systems from $60.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, November 17th. Credit Suisse Group lifted their price objective on shares of Cisco Systems from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, November 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Cisco Systems from $54.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, November 18th. Finally, Bank of America restated a “buy” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.95.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $47.81 on Wednesday. The firm’s fifty day simple moving average is $48.07 and its 200-day simple moving average is $45.41. The company has a quick ratio of 1.34, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock has a market cap of $196.44 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 2.31 and a beta of 0.99. Cisco Systems, Inc. has a fifty-two week low of $38.60 and a fifty-two week high of $57.69.

Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its earnings results on Wednesday, November 16th. The network equipment provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. Cisco Systems had a net margin of 22.00% and a return on equity of 31.68%. The company had revenue of $13.63 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Thursday, January 5th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, January 4th. This represents a $1.52 annualized dividend and a yield of 3.18%. Cisco Systems’s dividend payout ratio is presently 54.87%.

Insiders Place Their Bets

In other news, EVP Jeffery S. Sharritts sold 637 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $50.08, for a total value of $31,900.96. Following the completion of the transaction, the executive vice president now owns 276,589 shares in the company, valued at $13,851,577.12. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Cisco Systems news, CFO Richard Scott Herren sold 98,342 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $50.03, for a total value of $4,920,050.26. Following the sale, the chief financial officer now owns 304,048 shares of the company’s stock, valued at $15,211,521.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffery S. Sharritts sold 637 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $50.08, for a total transaction of $31,900.96. Following the transaction, the executive vice president now directly owns 276,589 shares of the company’s stock, valued at $13,851,577.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,098 shares of company stock worth $11,939,277. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Profile

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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.