Swiss National Bank Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Swiss National Bank reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,232,800 shares of the network equipment provider's stock after selling 40,900 shares during the period. Cisco Systems accounts for about 0.5% of Swiss National Bank's investment portfolio, making the stock its 26th biggest position. Swiss National Bank owned about 0.28% of Cisco Systems worth $693,176,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Cisco Systems by 0.5% during the first quarter. Vanguard Group Inc. now owns 388,949,854 shares of the network equipment provider's stock valued at $24,002,095,000 after buying an additional 1,865,648 shares during the last quarter. Northern Trust Corp grew its stake in shares of Cisco Systems by 11.4% during the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after buying an additional 4,832,813 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Cisco Systems by 37.4% during the first quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider's stock valued at $2,898,722,000 after buying an additional 12,775,066 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cisco Systems by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after buying an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cisco Systems by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after buying an additional 681,555 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other news, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the sale, the insider owned 255,377 shares in the company, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the sale, the executive vice president owned 177,027 shares of the company's stock, valued at approximately $11,331,498.27. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock valued at $6,271,054 over the last 90 days. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 1.0%

Cisco Systems stock opened at $69.90 on Friday. The business has a fifty day moving average of $67.31 and a two-hundred day moving average of $62.96. 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 firm has a market cap of $276.80 billion, a P/E ratio of 28.53, a P/E/G ratio of 3.84 and a beta of 0.91. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $70.14.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its 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. 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%. Cisco Systems's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on CSCO shares. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and upped their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. New Street Research reaffirmed a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Wall Street Zen cut Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, Citigroup increased their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Eight research 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $70.55.

About Cisco Systems

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.

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