Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management significantly increased its stake in Cisco Systems, owning 18,441 shares valued at approximately $1.14 million after purchasing an additional 18,418 shares in the first quarter.
• Cisco Systems reported earnings of $0.96 per share for the last quarter, surpassing estimates, with revenue of $14.15 billion, reflecting an 11.4% year-over-year increase.
• A recent dividend of $0.41 per share was paid to investors, representing a 2.40% yield, with a payout ratio of about 66.94%.

Picton Mahoney Asset Management raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 80,078.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,441 shares of the network equipment provider's stock after buying an additional 18,418 shares during the period. Picton Mahoney Asset Management's holdings in Cisco Systems were worth $1,138,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CSCO. FMR LLC boosted its position in Cisco Systems by 20.8% during 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. Pacer Advisors Inc. boosted its position in Cisco Systems by 1,144.2% during the first quarter. Pacer Advisors Inc. now owns 8,120,886 shares of the network equipment provider's stock worth $501,140,000 after acquiring an additional 7,468,212 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $413,491,000. GAMMA Investing LLC boosted its position in Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after acquiring an additional 6,625,045 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in Cisco Systems by 187.9% during the fourth 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 acquiring an additional 4,880,747 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 1.4%

Shares of CSCO traded down $0.97 during midday trading on Friday, hitting $67.11. The company had a trading volume of 21,648,306 shares, compared to its average volume of 15,898,578. The company's 50 day moving average price is $66.87 and its 200 day moving average price is $62.72. The stock has a market cap of $265.76 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 4.07 and a beta of 0.91. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. 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 released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping 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 company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. The company's revenue was up 11.4% on a year-over-year basis. On average, equities research analysts predict 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 was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's dividend payout ratio is currently 66.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CSCO shares. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Wolfe Research started coverage on shares of Cisco Systems in a report on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Evercore ISI reiterated an "in-line" rating and issued a $72.00 price target on shares of Cisco Systems in a report on Monday. New Street Research reiterated a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and an average price target of $70.35.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the completion of the sale, the executive vice president owned 174,669 shares of the company's stock, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the sale, the senior vice president directly owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by company insiders.

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.