E Fund Management Co. Ltd. Acquires 16,554 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

E Fund Management Co. Ltd. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 19.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,518 shares of the network equipment provider’s stock after purchasing an additional 16,554 shares during the period. E Fund Management Co. Ltd.’s holdings in Cisco Systems were worth $4,776,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Lumbard & Kellner LLC lifted its holdings in shares of Cisco Systems by 1.0% during the 2nd quarter. Lumbard & Kellner LLC now owns 105,076 shares of the network equipment provider’s stock valued at $4,992,000 after purchasing an additional 1,011 shares in the last quarter. Cranbrook Wealth Management LLC lifted its holdings in shares of Cisco Systems by 539.1% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 5,688 shares of the network equipment provider’s stock valued at $270,000 after purchasing an additional 4,798 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Cisco Systems by 3.4% in the 2nd quarter. Axxcess Wealth Management LLC now owns 147,045 shares of the network equipment provider’s stock valued at $6,986,000 after buying an additional 4,847 shares during the last quarter. Excalibur Management Corp raised its position in Cisco Systems by 4.4% in the 2nd quarter. Excalibur Management Corp now owns 44,370 shares of the network equipment provider’s stock valued at $2,108,000 after buying an additional 1,882 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities lifted their target price on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and an average target price of $55.89.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $50.61 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $56.28. The stock has a 50 day moving average of $48.25 and a 200-day moving average of $47.99. The company has a market capitalization of $203.90 billion, a P/E ratio of 17.04, a P/E/G ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its 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. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors 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 yield of 3.16%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 in the last ninety days. 0.02% of the stock is owned by company insiders.

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.