Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,729 shares of the network equipment provider's stock after selling 4,286 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Cisco Systems were worth $3,623,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Cisco Systems during the 4th quarter worth $3,297,905,000. FMR LLC lifted its stake in shares of 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 period. Alyeska Investment Group L.P. purchased a new position in shares of Cisco Systems during the 4th quarter worth $413,491,000. GAMMA Investing LLC grew its holdings in Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after buying an additional 6,625,045 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Cisco Systems by 187.9% in the 4th 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 buying an additional 4,880,747 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the sale, the insider owned 255,377 shares of the company's stock, valued at approximately $16,413,079.79. This trade represents a 0.35% 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 worth $6,271,054 in the last 90 days. Insiders own 0.01% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on CSCO shares. Evercore ISI lifted their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Rosenblatt Securities lifted their price target on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. KeyCorp began coverage on Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and lifted their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $70.35.

Cisco Systems Stock Up 0.3%

NASDAQ:CSCO traded up $0.24 during trading hours on Friday, hitting $68.54. 3,012,080 shares of the company's stock traded hands, compared to its average volume of 21,520,334. The firm has a market cap of $271.40 billion, a P/E ratio of 28.00, a P/E/G ratio of 4.03 and a beta of 0.90. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock's fifty day moving average price is $65.67 and its two-hundred day moving average price is $62.03.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $14.05 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced 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 2.39%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Cisco Systems 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.

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