Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sumitomo Mitsui Trust Group Inc. boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 11,313,378 shares of the network equipment provider's stock after acquiring an additional 535,864 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.28% of Cisco Systems worth $698,149,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Norges Bank acquired a new stake in Cisco Systems during the 4th quarter worth $3,297,905,000. FMR LLC boosted its stake in Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Cisco Systems during the 4th quarter worth $560,722,000. Alyeska Investment Group L.P. acquired a new stake in Cisco Systems during the 4th quarter worth $413,491,000. Finally, GAMMA Investing LLC boosted its stake in Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after purchasing an additional 6,625,045 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the transaction, the executive vice president now directly owns 174,669 shares of the company's stock, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer now owns 688,409 shares of the company's stock, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last three months. Company insiders own 0.01% of the company's stock.

Cisco Systems Trading Down 0.4%

CSCO traded down $0.30 on Friday, hitting $68.65. The company had a trading volume of 26,213,514 shares, compared to its average volume of 20,235,237. The firm has a market cap of $271.85 billion, a P/E ratio of 28.02, a PEG ratio of 4.10 and a beta of 0.88. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.22. The company's fifty day moving average price is $62.57 and its 200 day moving average price is $61.10. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

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. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current 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 paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Rosenblatt Securities boosted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Evercore ISI boosted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Finally, Citigroup boosted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Seven investment 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.53.

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.