Cisco Systems, Inc. (NASDAQ:CSCO) Stake Increased by Gold Investment Management Ltd.

Gold Investment Management Ltd. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,909 shares of the network equipment provider’s stock after buying an additional 1,098 shares during the period. Gold Investment Management Ltd.’s holdings in Cisco Systems were worth $2,648,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Norges Bank bought a new stake in shares of Cisco Systems in the fourth quarter worth $3,297,905,000. FMR LLC boosted its holdings in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Raymond James Financial Inc. acquired a new position in Cisco Systems in the fourth quarter worth $560,722,000. Alyeska Investment Group L.P. acquired a new position in Cisco Systems in the fourth quarter worth $413,491,000. Finally, GAMMA Investing LLC boosted its holdings in Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after purchasing an additional 6,625,045 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, insider Jeetendra I. Patel sold 899 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the transaction, the insider now owns 255,377 shares in the company, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,185 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president now owns 38,103 shares of the company’s stock, valued at approximately $2,419,921.53. The trade was a 9.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. KeyCorp assumed coverage on shares of Cisco Systems in a report on Thursday. They issued an “overweight” rating and a $77.00 price objective for the company. Citigroup lifted their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. New Street Research reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Evercore ISI lifted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Finally, Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $69.53.

Cisco Systems Stock Performance

Shares of CSCO opened at $68.65 on Friday. The firm has a 50-day moving average price of $62.57 and a 200 day moving average price of $61.08. The firm has a market capitalization of $271.85 billion, a PE ratio of 28.02, a P/E/G ratio of 4.12 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.22.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

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.