Norden Group LLC Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Norden Group LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 112,408 shares of the network equipment provider’s stock after buying an additional 7,988 shares during the period. Cisco Systems accounts for approximately 1.1% of Norden Group LLC’s holdings, making the stock its 19th biggest position. Norden Group LLC’s holdings in Cisco Systems were worth $5,341,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in shares of Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares during the last quarter. Norges Bank bought a new position in shares of Cisco Systems during the 4th quarter valued at about $2,528,939,000. Wellington Management Group LLP boosted its holdings in shares of Cisco Systems by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after purchasing an additional 3,314,330 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Cisco Systems by 12.3% during the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after purchasing an additional 2,723,260 shares during the last quarter. Finally, FIL Ltd boosted its holdings in shares of Cisco Systems by 47.1% during the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after purchasing an additional 6,054,748 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of a number of analyst reports. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.89.

Cisco Systems Price Performance

CSCO stock traded down $0.63 during trading on Friday, reaching $48.50. 21,040,496 shares of the company were exchanged, compared to its average volume of 19,646,146. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The company has a market cap of $195.40 billion, a P/E ratio of 16.33, a PEG ratio of 3.98 and a beta of 0.83. The stock’s 50 day moving average price is $47.84 and its 200 day moving average price is $47.94. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.09.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,944 shares of company stock worth $3,566,120. 0.02% of the stock is currently owned by company insiders.

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.