Main Street Research LLC Increases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Main Street Research LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4,721.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 530,296 shares of the network equipment provider's stock after purchasing an additional 519,298 shares during the quarter. Cisco Systems comprises about 2.1% of Main Street Research LLC's holdings, making the stock its 22nd biggest holding. Main Street Research LLC's holdings in Cisco Systems were worth $32,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Cisco Systems during the fourth quarter worth approximately $3,297,905,000. FMR LLC lifted its stake in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Cisco Systems during the 4th quarter worth approximately $413,491,000. GAMMA Investing LLC increased its position in shares of 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 valued at $414,593,000 after purchasing an additional 6,625,045 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Cisco Systems by 187.9% during 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 during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.81 during trading on Friday, reaching $67.95. The company had a trading volume of 14,698,247 shares, compared to its average volume of 20,360,928. 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 debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The stock's fifty day moving average price is $65.02 and its 200 day moving average price is $61.83. The firm has a market capitalization of $269.08 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90.

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 firm 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 earned $0.88 earnings per share. The firm's revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.41%. Cisco Systems's dividend payout ratio is presently 66.94%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wolfe Research initiated coverage on Cisco Systems in a research note on Tuesday, July 8th. They set a "peer perform" rating for the company. Evercore ISI increased their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.53.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,335 shares of company stock worth $6,271,054. Insiders own 0.01% of the company's stock.

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.