AIA Group Ltd Has $3.76 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• AIA Group Ltd increased its stake in Cisco Systems by 62.6%, owning 60,907 shares worth approximately $3.76 million after buying an additional 23,459 shares in the first quarter.
• Wall Street analysts have varied ratings for Cisco, with Morgan Stanley raising their price target from $67.00 to $70.00, while Deutsche Bank upgraded their rating to a "buy" and increased the price target to $73.00.
• Cisco Systems recently declared a quarterly dividend of $0.41 per share, representing an annualized amount of $1.64, with a dividend yield of 2.3%.

AIA Group Ltd lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 62.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,907 shares of the network equipment provider's stock after buying an additional 23,459 shares during the period. AIA Group Ltd's holdings in Cisco Systems were worth $3,759,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CSCO. Navigoe LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC raised its holdings in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares in the last quarter. Pandora Wealth Inc. acquired a new position in shares of Cisco Systems in the 1st quarter worth approximately $31,000. Finally, Fairway Wealth LLC raised its holdings in shares of Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after buying an additional 400 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CSCO shares. Morgan Stanley raised their price target on Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, July 18th. KeyCorp started coverage on Cisco Systems in a report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price target for the company. Wall Street Zen cut Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the company from $65.00 to $73.00 in a report on Monday, June 16th. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $70.55.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer owned 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 over the last three months. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 2.7%

Shares of CSCO opened at $71.79 on Monday. The firm has a market capitalization of $284.29 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 3.98 and a beta of 0.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The business's fifty day moving average price is $67.49 and its two-hundred day moving average price is $63.05. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $72.02.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period last year, the company earned $0.88 EPS. The firm's revenue was up 11.4% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

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.

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