121,000 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by Nkcfo LLC

Key Points

• Nkcfo LLC has acquired a new stake in Cisco Systems, purchasing 121,000 shares valued at approximately $7.47 million, making it the firm's 9th largest holding.
• Several hedge funds have increased their stakes in Cisco, with FMR LLC raising its position by 20.8% and Pacer Advisors boosting by 1,144.2% during the same quarter.
• Cisco recently reported EPS of $0.96, exceeding estimates, alongside a quarterly revenue of $14.15 billion, indicating year-over-year growth of 11.4%.

Nkcfo LLC purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 121,000 shares of the network equipment provider's stock, valued at approximately $7,467,000. Cisco Systems makes up approximately 3.5% of Nkcfo LLC's portfolio, making the stock its 9th biggest position.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its position 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 valued at $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Pacer Advisors Inc. raised its position in Cisco Systems by 1,144.2% in the first quarter. Pacer Advisors Inc. now owns 8,120,886 shares of the network equipment provider's stock valued at $501,140,000 after purchasing an additional 7,468,212 shares during the period. Alyeska Investment Group L.P. purchased a new position in Cisco Systems in the fourth quarter valued at about $413,491,000. GAMMA Investing LLC raised its position in 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 valued at $414,593,000 after purchasing an additional 6,625,045 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after purchasing an additional 4,880,747 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent analyst reports. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Morgan Stanley lifted their price objective on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and an average price target of $70.35.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the sale, the executive vice president owned 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the sale, the insider owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 0.1%

Shares of NASDAQ CSCO traded down $0.10 during mid-day trading on Thursday, reaching $68.19. The company had a trading volume of 7,381,642 shares, compared to its average volume of 21,138,977. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a market capitalization of $270.01 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 4.07 and a beta of 0.90. The stock's 50 day moving average is $66.70 and its 200-day moving average is $62.60.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping 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 business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the business posted $0.88 earnings per share. Cisco Systems's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.41%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

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.