Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by New England Asset Management Inc.

New England Asset Management Inc. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 141,896 shares of the network equipment provider’s stock after buying an additional 840 shares during the quarter. Cisco Systems makes up approximately 1.2% of New England Asset Management Inc.’s portfolio, making the stock its 28th biggest position. New England Asset Management Inc.’s holdings in Cisco Systems were worth $7,552,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Napa Wealth Management purchased a new position in Cisco Systems in the third quarter valued at $210,000. Tidemark LLC boosted its position in shares of Cisco Systems by 40.9% during the 3rd quarter. Tidemark LLC now owns 1,181 shares of the network equipment provider’s stock worth $63,000 after acquiring an additional 343 shares in the last quarter. Strengthening Families & Communities LLC increased its holdings in shares of Cisco Systems by 8.6% in the 3rd quarter. Strengthening Families & Communities LLC now owns 35,185 shares of the network equipment provider’s stock valued at $1,873,000 after acquiring an additional 2,795 shares during the last quarter. Aviso Wealth Management raised its position in shares of Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after acquiring an additional 181 shares in the last quarter. Finally, Equity Investment Corp lifted its stake in Cisco Systems by 0.5% during the third quarter. Equity Investment Corp now owns 1,294,070 shares of the network equipment provider’s stock worth $68,870,000 after purchasing an additional 6,574 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’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 $6,821,929.52. The trade was a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,615 shares of company stock valued at $682,681 in the last ninety days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 0.3 %

NASDAQ CSCO opened at $57.31 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $228.71 billion, a P/E ratio of 24.60, a P/E/G ratio of 4.76 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The firm has a 50-day moving average price of $54.35 and a 200 day moving average price of $49.88.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the prior year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. Cisco Systems’s payout ratio is currently 68.67%.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Evercore ISI raised their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Morgan Stanley upped their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, UBS Group upped their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.94.

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.