Keene & Associates Inc. Acquires 1,629 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Keene & Associates Inc. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 72,812 shares of the network equipment provider’s stock after acquiring an additional 1,629 shares during the period. Cisco Systems comprises about 2.8% of Keene & Associates Inc.’s portfolio, making the stock its 10th largest holding. Keene & Associates Inc.’s holdings in Cisco Systems were worth $3,459,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Brown Brothers Harriman & Co. increased its position in shares of Cisco Systems by 19.0% in the second quarter. Brown Brothers Harriman & Co. now owns 121,055 shares of the network equipment provider’s stock worth $5,751,000 after acquiring an additional 19,338 shares in the last quarter. Pine Harbor Wealth Management LLC purchased a new position in Cisco Systems during the 2nd quarter worth approximately $221,000. Plato Investment Management Ltd raised its stake in Cisco Systems by 28.5% during the 2nd quarter. Plato Investment Management Ltd now owns 84,469 shares of the network equipment provider’s stock valued at $4,013,000 after purchasing an additional 18,744 shares during the period. Providence Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 1.4% in the second quarter. Providence Wealth Advisors LLC now owns 23,718 shares of the network equipment provider’s stock valued at $1,128,000 after purchasing an additional 330 shares in the last quarter. Finally, Rock Point Advisors LLC boosted its position in shares of Cisco Systems by 66.1% in the second quarter. Rock Point Advisors LLC now owns 192,910 shares of the network equipment provider’s stock worth $9,165,000 after buying an additional 76,784 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Barclays decreased their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Jefferies Financial Group dropped their price objective on shares of 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, Rosenblatt Securities boosted their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.89.

Cisco Systems Trading Up 0.4 %

NASDAQ:CSCO opened at $49.80 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $48.05 and its 200-day moving average is $47.96. The firm has a market cap of $200.63 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 3.87 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $56.47.

Cisco Systems (NASDAQ:CSCO) last released its earnings results 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. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.21%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last three months. 0.02% of the stock is currently owned by 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.