14,092 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,092 shares of the network equipment provider’s stock, valued at approximately $750,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Swedbank AB purchased a new position in shares of Cisco Systems in the first quarter worth approximately $840,538,000. Dimensional Fund Advisors LP increased its position in shares of Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after acquiring an additional 4,842,542 shares in the last quarter. Natixis increased its position in shares of Cisco Systems by 438.4% in the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after acquiring an additional 4,010,228 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after acquiring an additional 2,906,357 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CSCO shares. Tigress Financial lifted their target price 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. Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $59.42.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $57.46 on Friday. The firm has a fifty day simple moving average of $54.18 and a 200-day simple moving average of $49.78. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38. The stock has a market capitalization of $229.31 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 4.76 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the company earned $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Insider Transactions at Cisco Systems

In related news, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. This represents a 7.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is owned by insiders.

Cisco Systems Company 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.