Handelsbanken Fonder AB Has $174.40 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Handelsbanken Fonder AB lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 9.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,826,101 shares of the network equipment provider's stock after buying an additional 234,000 shares during the period. Cisco Systems accounts for approximately 0.7% of Handelsbanken Fonder AB's holdings, making the stock its 21st biggest position. Handelsbanken Fonder AB owned 0.07% of Cisco Systems worth $174,399,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc grew its position in shares of Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after purchasing an additional 166 shares in the last quarter. Fairhaven Wealth Management LLC boosted its stake in shares of Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after buying an additional 167 shares during the period. BlackDiamond Wealth Management LLC grew its position in Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after buying an additional 168 shares in the last quarter. Legacy Financial Group Inc. increased its stake in Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after acquiring an additional 169 shares during the period. Finally, Maple Capital Management Inc. raised its holdings in Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after acquiring an additional 170 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $1.01 during mid-day trading on Friday, hitting $64.09. 14,630,776 shares of the stock traded hands, compared to its average volume of 20,142,195. The company has a market cap of $253.80 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm has a 50 day simple moving average of $60.47 and a two-hundred day simple moving average of $60.56.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period last year, the firm posted $0.88 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

Analyst Ratings Changes

Several analysts have recently issued reports on CSCO shares. The Goldman Sachs Group increased their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Activity

In other news, CEO Charles Robbins sold 29,784 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the sale, the insider now owns 255,377 shares of the company's stock, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,931 shares of company stock valued at $4,671,930. 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.