Artemis Investment Management LLP Invests $9.99 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

Artemis Investment Management LLP bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 161,959 shares of the network equipment provider's stock, valued at approximately $9,994,000.

Other hedge funds also recently bought and sold shares of the company. Canvas Wealth Advisors LLC raised its stake in shares of Cisco Systems by 8.6% in the first quarter. Canvas Wealth Advisors LLC now owns 8,321 shares of the network equipment provider's stock valued at $513,000 after acquiring an additional 656 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of Cisco Systems by 20.1% in the first quarter. Illinois Municipal Retirement Fund now owns 706,329 shares of the network equipment provider's stock valued at $43,588,000 after acquiring an additional 118,191 shares during the period. Transcend Capital Advisors LLC raised its stake in shares of Cisco Systems by 8.2% in the first quarter. Transcend Capital Advisors LLC now owns 48,804 shares of the network equipment provider's stock valued at $3,012,000 after acquiring an additional 3,678 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Cisco Systems by 1.4% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 50,514 shares of the network equipment provider's stock valued at $3,117,000 after acquiring an additional 702 shares during the period. Finally, Diversified Trust Co raised its stake in shares of Cisco Systems by 35.9% in the first quarter. Diversified Trust Co now owns 104,965 shares of the network equipment provider's stock valued at $6,477,000 after acquiring an additional 27,712 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

CSCO has been the topic of several recent analyst reports. Evercore ISI raised their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Trading Down 0.4%

NASDAQ:CSCO traded down $0.30 on Friday, reaching $68.65. 26,213,514 shares of the company's stock were exchanged, compared to its average volume of 20,235,237. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $271.85 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88. The business has a fifty day moving average of $62.57 and a 200-day moving average of $61.10. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.22.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president now directly owns 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer now owns 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. 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.