Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 114.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,242,016 shares of the network equipment provider's stock after purchasing an additional 664,064 shares during the period. Cisco Systems accounts for 1.5% of Ferguson Wellman Capital Management Inc.'s portfolio, making the stock its 20th largest holding. Ferguson Wellman Capital Management Inc.'s holdings in Cisco Systems were worth $76,645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Norges Bank bought a new stake in Cisco Systems in the 4th quarter valued at $3,297,905,000. FMR LLC increased its holdings in 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 acquiring an additional 13,285,052 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Cisco Systems in the 4th quarter valued at $560,722,000. Alyeska Investment Group L.P. bought a new stake in shares of Cisco Systems in the fourth quarter worth about $413,491,000. Finally, GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 6,625,045 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer now owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president now directly owns 131,676 shares of the company's stock, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,931 shares of company stock worth $4,671,930. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 1.5%

Shares of CSCO traded down $1.01 during midday trading on Friday, reaching $64.09. 8,869,667 shares of the stock were exchanged, compared to its average volume of 21,490,047. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company's 50 day moving average is $60.25 and its two-hundred day moving average is $60.53. The company has a market capitalization of $253.80 billion, a P/E ratio of 27.99, a PEG ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the prior year, the business earned $0.88 EPS. The firm's quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. UBS Group boosted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

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.