Cohen Capital Management Inc. Acquires 1,610 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cohen Capital Management Inc. grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,577 shares of the network equipment provider’s stock after acquiring an additional 1,610 shares during the quarter. Cisco Systems accounts for approximately 1.9% of Cohen Capital Management Inc.’s investment portfolio, making the stock its 14th largest position. Cohen Capital Management Inc.’s holdings in Cisco Systems were worth $11,739,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Cisco Systems by 226.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after acquiring an additional 18,339 shares in the last quarter. United Community Bank boosted its stake in shares of Cisco Systems by 4.3% during the first quarter. United Community Bank now owns 52,843 shares of the network equipment provider’s stock valued at $2,637,000 after purchasing an additional 2,165 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Cisco Systems by 6.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,545,940 shares of the network equipment provider’s stock worth $77,158,000 after purchasing an additional 93,653 shares during the last quarter. Wellington Shields & Co. LLC increased its stake in shares of Cisco Systems by 3.8% in the first quarter. Wellington Shields & Co. LLC now owns 29,921 shares of the network equipment provider’s stock valued at $1,493,000 after buying an additional 1,084 shares during the period. Finally, Easterly Investment Partners LLC raised its holdings in Cisco Systems by 29.5% in the 1st quarter. Easterly Investment Partners LLC now owns 457,840 shares of the network equipment provider’s stock valued at $22,851,000 after buying an additional 104,317 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI upped their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Jefferies Financial Group cut their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Tigress Financial boosted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.74.

Cisco Systems Stock Performance

CSCO opened at $55.71 on Monday. The company has a market cap of $222.32 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.54 and a beta of 0.83. The company’s fifty day moving average price is $52.63 and its two-hundred day moving average price is $49.10. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. 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 (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 EPS. On average, analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.87%. Cisco Systems’s dividend payout ratio (DPR) is currently 62.99%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is owned by 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 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.