99,187 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC has invested approximately $6.12 million in Cisco Systems by acquiring 99,187 shares in the first quarter.
• Several hedge funds, including Vanguard Group Inc. and Goldman Sachs Group Inc., have recently increased their stakes in Cisco, with hedge funds now owning 73.33% of the company's stock.
• Cisco Systems reported earnings of $0.96 per share for the last quarter, surpassing analysts' estimates and indicating an 11.4% year-over-year revenue increase.

Headlands Technologies LLC acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 99,187 shares of the network equipment provider's stock, valued at approximately $6,121,000.

Several other large investors also recently bought and sold shares of CSCO. Kornitzer Capital Management Inc. KS lifted its stake in shares of Cisco Systems by 0.7% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock worth $55,049,000 after purchasing an additional 6,501 shares during the period. Golden State Wealth Management LLC raised its position in Cisco Systems by 10.8% in the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock worth $389,000 after acquiring an additional 612 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cisco Systems by 28.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after acquiring an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario grew its position in shares of Cisco Systems by 44.6% during the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after acquiring an additional 59,680 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of Cisco Systems by 2.6% in the 1st quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider's stock worth $6,882,000 after purchasing an additional 2,839 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider directly 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 disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 over the last three months. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

NASDAQ CSCO traded up $1.89 during trading on Friday, hitting $71.79. 31,389,613 shares of the stock traded hands, compared to its average volume of 16,692,797. 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, Inc. has a 12-month low of $44.50 and a 12-month high of $72.02. The firm has a 50-day simple moving average of $67.49 and a 200-day simple moving average of $63.03. The company has a market capitalization of $284.29 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 3.88 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion during 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 was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $0.88 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's payout ratio is presently 66.94%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Rosenblatt Securities increased their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Evercore ISI reaffirmed an "in-line" rating and set a $72.00 price target on shares of Cisco Systems in a report on Monday, July 28th. Finally, UBS Group increased their price objective on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and an average price target of $70.55.

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.