OVERSEA CHINESE BANKING Corp Ltd Buys 126,236 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 265.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,806 shares of the network equipment provider's stock after buying an additional 126,236 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Cisco Systems were worth $10,726,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Navigoe LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC lifted its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. purchased a new stake in Cisco Systems in the 4th quarter worth approximately $30,000. Finally, Fairway Wealth LLC lifted its stake in Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock worth $36,000 after purchasing an additional 400 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSCO has been the topic of several recent analyst reports. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. New Street Research reissued a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Citigroup increased their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Evercore ISI raised their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $70.20.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares of the company's stock, valued at approximately $11,331,498.27. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the company'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 transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 in the last quarter. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 1.4%

Cisco Systems stock traded up $0.93 during trading hours on Thursday, hitting $68.30. The stock had a trading volume of 20,370,196 shares, compared to its average volume of 20,330,094. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock's 50-day moving average price is $65.50 and its 200-day moving average price is $61.96. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The stock has a market capitalization of $270.47 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 4.02 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $14.05 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The firm's quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders 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 dividend on an annualized basis and a yield of 2.40%. Cisco Systems's dividend payout ratio is currently 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.