Quintet Private Bank Europe S.A. Purchases 92,179 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Quintet Private Bank Europe S.A. grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 17.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 635,667 shares of the network equipment provider’s stock after acquiring an additional 92,179 shares during the quarter. Cisco Systems accounts for 1.9% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 16th biggest position. Quintet Private Bank Europe S.A.’s holdings in Cisco Systems were worth $33,830,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. boosted its stake in Cisco Systems by 4.6% in the third quarter. Asset Management One Co. Ltd. now owns 1,858,447 shares of the network equipment provider’s stock valued at $98,907,000 after buying an additional 82,313 shares in the last quarter. National Pension Service increased its holdings in shares of Cisco Systems by 13.4% during the third quarter. National Pension Service now owns 8,383,820 shares of the network equipment provider’s stock valued at $446,187,000 after acquiring an additional 988,390 shares in the last quarter. Cohen Capital Management Inc. grew its holdings in Cisco Systems by 0.7% during the third quarter. Cohen Capital Management Inc. now owns 220,577 shares of the network equipment provider’s stock worth $11,739,000 after buying an additional 1,610 shares in the last quarter. Intact Investment Management Inc. boosted its position in Cisco Systems by 9.8% in the third quarter. Intact Investment Management Inc. now owns 325,230 shares of the network equipment provider’s stock worth $17,309,000 after purchasing an additional 28,900 shares during the last quarter. Finally, BSW Wealth Partners boosted its position in Cisco Systems by 4.4% in the third quarter. BSW Wealth Partners now owns 6,879 shares of the network equipment provider’s stock worth $366,000 after purchasing an additional 290 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded up $0.26 during trading on Monday, reaching $55.76. 2,180,678 shares of the company’s stock traded hands, compared to its average volume of 18,968,541. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06. 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 firm has a market cap of $222.52 billion, a PE ratio of 21.82, a P/E/G ratio of 4.54 and a beta of 0.83. The company has a 50-day simple moving average of $52.63 and a 200-day simple moving average of $49.10.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the firm earned $1.01 EPS. The company’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, analysts predict 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 was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CSCO. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Tigress Financial upped their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $56.74.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.01% of the company’s stock.

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.