Deutsche Bank AG Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Deutsche Bank AG increased its stake in Cisco Systems by 2.3%, owning approximately 15,986,020 shares worth nearly $1 billion at the end of the first quarter.
• Multiple analysts have upgraded Cisco Systems, with JP Morgan raising its target price to $78.00, while Citigroup's and Deutsche Bank's targets are set at $71.00 and $73.00 respectively.
• Cisco reported a quarterly earnings per share of $0.96, beating estimates, with a revenue of $14.15 billion—an increase of 11.4% year-on-year.

Deutsche Bank AG lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,986,020 shares of the network equipment provider's stock after purchasing an additional 353,377 shares during the period. Deutsche Bank AG owned approximately 0.40% of Cisco Systems worth $986,497,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CSCO. Foster Dykema Cabot & Partners LLC increased its position in shares of Cisco Systems by 3.3% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 14,336 shares of the network equipment provider's stock worth $885,000 after acquiring an additional 461 shares during the period. Chicago Partners Investment Group LLC grew its stake in Cisco Systems by 12.3% during the 1st quarter. Chicago Partners Investment Group LLC now owns 33,795 shares of the network equipment provider's stock worth $2,013,000 after purchasing an additional 3,714 shares in the last quarter. Monetta Financial Services Inc. purchased a new stake in Cisco Systems during the 1st quarter worth about $864,000. ASR Vermogensbeheer N.V. acquired a new stake in Cisco Systems in the 1st quarter valued at about $32,866,000. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Cisco Systems by 7.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 291,881 shares of the network equipment provider's stock valued at $18,012,000 after buying an additional 19,726 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the topic of several analyst reports. Citigroup raised their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Rosenblatt Securities lifted their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Evercore ISI reissued an "in-line" rating and set a $72.00 target price on shares of Cisco Systems in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. upped their price target on Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Eight research 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's stock. According to MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $70.55.

Cisco Systems Stock Up 2.5%

Shares of NASDAQ:CSCO opened at $69.21 on Thursday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm's 50-day simple moving average is $67.17 and its 200-day simple moving average is $62.89. The company has a market cap of $274.07 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 3.78 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating 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 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 quarter in the previous year, the company earned $0.88 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were given a $0.41 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.4%. Cisco Systems's dividend payout ratio is presently 66.94%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the sale, the insider directly owned 257,162 shares in the company, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president owned 181,186 shares of the company's stock, valued at $11,505,311. This represents a 5.05% 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 three months. 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.

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