Hager Investment Management Services LLC Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Hager Investment Management Services LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 262.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,266 shares of the network equipment provider's stock after buying an additional 12,506 shares during the period. Hager Investment Management Services LLC's holdings in Cisco Systems were worth $1,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Cisco Systems in the 4th quarter worth approximately $3,297,905,000. FMR LLC boosted its position 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 worth $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Cisco Systems in the 4th quarter worth approximately $413,491,000. GAMMA Investing LLC boosted its position 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 worth $414,593,000 after purchasing an additional 6,625,045 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position 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 worth $442,749,000 after purchasing an additional 4,880,747 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Activity

In related news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the transaction, the senior vice president directly owned 36,937 shares in the company, valued at $2,366,553.59. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeetendra I. Patel sold 899 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider owned 255,377 shares of the company's stock, valued at $16,413,079.79. This trade represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. KeyCorp assumed 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. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and upped their target price for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, New Street Research reaffirmed a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Eight equities 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.95.

Cisco Systems Stock Down 0.2%

Shares of CSCO opened at $67.82 on Tuesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The company has a market capitalization of $268.57 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90. The stock has a fifty day simple moving average of $65.19 and a two-hundred day simple moving average of $61.89. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

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

Cisco Systems Dividend Announcement

The firm 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 dividend yield of 2.42%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio 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.

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