Financiere des Professionnels Fonds d investissement inc. Acquires 10,983 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Financiere des Professionnels Fonds d investissement inc. boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 70.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,624 shares of the network equipment provider's stock after purchasing an additional 10,983 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Cisco Systems were worth $1,643,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Glass Jacobson Investment Advisors llc increased its stake in shares of Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after acquiring an additional 166 shares during the last quarter. BlackDiamond Wealth Management LLC increased its stake in Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after purchasing an additional 168 shares in the last quarter. Legacy Financial Group Inc. increased its stake in Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after purchasing an additional 169 shares in the last quarter. Capital Advantage Inc. increased its stake in Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock valued at $1,028,000 after purchasing an additional 172 shares in the last quarter. Finally, Lynx Investment Advisory increased its position in shares of Cisco Systems by 3.9% in the 4th quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock valued at $272,000 after buying an additional 174 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on CSCO shares. Rosenblatt Securities upped their price objective 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 increased their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and increased their target price for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. New Street Research reissued a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Finally, KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.53.

Insider Activity

In related news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Up 1.5%

Shares of NASDAQ CSCO traded up $1.05 during mid-day trading on Friday, hitting $69.64. The company had a trading volume of 17,973,495 shares, compared to its average volume of 20,350,689. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a 50-day simple moving average of $63.93 and a two-hundred day simple moving average of $61.48. The company has a market capitalization of $275.77 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data 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 net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the firm posted $0.88 EPS. The company's quarterly revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given 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 2.35%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

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.