Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Corundum Group Inc.

Corundum Group Inc. boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 35.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,830 shares of the network equipment provider’s stock after buying an additional 5,171 shares during the quarter. Corundum Group Inc.’s holdings in Cisco Systems were worth $990,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. MQS Management LLC purchased a new position in shares of Cisco Systems during the third quarter valued at approximately $513,000. Mather Group LLC. boosted its holdings in shares of Cisco Systems by 8.1% during the third quarter. Mather Group LLC. now owns 59,297 shares of the network equipment provider’s stock worth $3,188,000 after purchasing an additional 4,456 shares during the last quarter. Vinva Investment Management Ltd lifted its position in Cisco Systems by 14.0% during the third quarter. Vinva Investment Management Ltd now owns 145,748 shares of the network equipment provider’s stock worth $7,853,000 after buying an additional 17,862 shares during the period. Treasurer of the State of North Carolina boosted its stake in Cisco Systems by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 2,025,293 shares of the network equipment provider’s stock worth $108,880,000 after buying an additional 7,731 shares during the last quarter. Finally, Trustmark National Bank Trust Department grew its holdings in Cisco Systems by 4.9% in the 3rd quarter. Trustmark National Bank Trust Department now owns 123,792 shares of the network equipment provider’s stock valued at $6,655,000 after buying an additional 5,837 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock traded up $0.17 during trading on Thursday, reaching $47.03. 754,764 shares of the company’s stock were exchanged, compared to its average volume of 19,601,986. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19. The firm has a market cap of $189.47 billion, a PE ratio of 15.78, a P/E/G ratio of 2.74 and a beta of 0.85. The company’s fifty day moving average price is $47.11 and its 200-day moving average price is $48.83. 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 issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. On average, research analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’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 sale, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,106 shares of company stock valued at $1,908,923. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of a number of recent analyst reports. Oppenheimer boosted their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Barclays boosted their price target on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Finally, StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.47.

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 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.