Bleakley Financial Group LLC Purchases 7,804 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bleakley Financial Group LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,387 shares of the network equipment provider's stock after purchasing an additional 7,804 shares during the period. Bleakley Financial Group LLC's holdings in Cisco Systems were worth $9,280,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Cisco Systems in the 4th quarter worth about $3,297,905,000. FMR LLC grew its stake in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $413,491,000. GAMMA Investing LLC increased its holdings in 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 worth $414,593,000 after buying an additional 6,625,045 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Cisco Systems by 187.9% during 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 Activity

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the transaction, the executive vice president owned 177,027 shares in the company, valued at approximately $11,331,498.27. This represents a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.13 on Monday, hitting $67.82. 16,442,186 shares of the company were exchanged, compared to its average volume of 21,775,283. The company's 50 day moving average price is $65.02 and its two-hundred day moving average price is $61.83. The firm has a market capitalization of $268.57 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 4.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

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

Cisco Systems Dividend Announcement

The company also recently announced 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 is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.42%. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Analysts Set New Price Targets

Several brokerages have recently commented on CSCO. Rosenblatt Securities increased their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Wolfe Research began coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and an average target price of $69.95.

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.