Bank Hapoalim BM Lowers Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Bank Hapoalim BM cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,577 shares of the network equipment provider's stock after selling 6,830 shares during the quarter. Bank Hapoalim BM's holdings in Cisco Systems were worth $5,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. FMR LLC grew its holdings in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after acquiring an additional 13,285,052 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $413,491,000. GAMMA Investing LLC grew its holdings in shares of Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after acquiring an additional 6,625,045 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after acquiring an additional 4,880,747 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president owned 174,669 shares in the company, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares in the company, valued at $11,331,498.27. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 in the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.81 during trading hours on Friday, reaching $67.95. The company had a trading volume of 14,698,247 shares, compared to its average volume of 20,363,227. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The business has a fifty day simple moving average of $65.02 and a 200 day simple moving average of $61.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a market cap of $269.08 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 4.11 and a beta of 0.90.

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

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $65.00 to $73.00 in a report on Monday, June 16th. Wolfe Research assumed coverage on Cisco Systems in a report on Tuesday. They set a "peer perform" rating for the company. Finally, Evercore ISI increased their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.53.

Cisco Systems Company Profile

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.