Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 253,287 shares of the network equipment provider’s stock after purchasing an additional 9,156 shares during the quarter. Metis Global Partners LLC’s holdings in Cisco Systems were worth $13,480,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth $25,000. West Financial Advisors LLC increased its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Quarry LP increased its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the second quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after purchasing an additional 766 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.1 %

Shares of NASDAQ CSCO opened at $59.25 on Thursday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The stock has a market cap of $236.45 billion, a P/E ratio of 23.30, a PEG ratio of 4.86 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $53.82 and its 200-day simple moving average is $49.64.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for 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 company’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the business earned $1.01 EPS. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is 62.99%.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated 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 owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CSCO has been the topic of several analyst reports. Barclays lifted their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Rosenblatt Securities raised their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Jefferies Financial Group decreased their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $58.16.

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.