Tokio Marine Asset Management Co. Ltd. Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in Cisco Systems by 7.1%, purchasing an additional 7,766 shares, bringing its total holdings to 117,855 shares valued at approximately $7.27 million.
• Cisco Systems reported a quarterly earnings per share (EPS) of $0.96, exceeding analysts' expectations of $0.92, with a revenue of $14.15 billion, which is an 11.4% year-over-year increase.
• Analysts maintain a Moderate Buy rating for Cisco, with 16 analysts rating it as a buy and an average price target of $70.55 for the stock.

Tokio Marine Asset Management Co. Ltd. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,855 shares of the network equipment provider's stock after buying an additional 7,766 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in Cisco Systems were worth $7,273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. Navigoe LLC acquired a new position in Cisco Systems in the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at about $26,000. JDM Financial Group LLC boosted its position in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Pandora Wealth Inc. bought a new position in Cisco Systems during the 1st quarter valued at about $31,000. Finally, Fairway Wealth LLC lifted its holdings in Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after purchasing an additional 400 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $3.10 during midday trading on Friday, reaching $66.20. The company had a trading volume of 40,838,996 shares, compared to its average volume of 21,652,074. The stock has a market cap of $262.15 billion, a P/E ratio of 25.27, a P/E/G ratio of 3.90 and a beta of 0.91. Cisco Systems, Inc. has a 52-week low of $47.85 and a 52-week high of $72.55. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The company's 50 day moving average price is $67.98 and its 200 day moving average price is $63.28.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The firm had revenue of $14.67 billion for the quarter, compared to analysts' expectations of $14.63 billion. Cisco Systems had a return on equity of 27.24% and a net margin of 18.45%. The company's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. As a group, sell-side 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, October 22nd. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, October 3rd. Cisco Systems's payout ratio is 66.94%.

Analyst Ratings Changes

Several brokerages recently issued reports on CSCO. 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. UBS Group boosted their target price on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. CICC Research assumed coverage on shares of Cisco Systems in a research note on Monday, July 14th. They issued an "outperform" rating and a $78.00 target price for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $87.00 target price on shares of Cisco Systems in a research note on Thursday. Finally, Wall Street Zen downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $73.45.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total transaction of $154,072.07. Following the transaction, the executive vice president owned 177,027 shares in the company, valued at $11,331,498.27. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,731 shares of company stock worth $5,021,519. 0.01% of the stock is currently owned by corporate insiders.

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.