USA Financial Formulas Purchases 19,949 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

USA Financial Formulas grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 84.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,520 shares of the network equipment provider's stock after purchasing an additional 19,949 shares during the period. Cisco Systems comprises about 0.4% of USA Financial Formulas' investment portfolio, making the stock its 13th biggest position. USA Financial Formulas' holdings in Cisco Systems were worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Cisco Systems in the fourth quarter worth about $3,297,905,000. FMR LLC raised its stake in shares of Cisco Systems by 20.8% in 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. Raymond James Financial Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth about $560,722,000. Alyeska Investment Group L.P. bought a new position in shares of Cisco Systems in the fourth quarter worth about $413,491,000. Finally, GAMMA Investing LLC raised its stake in shares of 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 worth $414,593,000 after acquiring an additional 6,625,045 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Down 1.6%

Shares of Cisco Systems stock traded down $1.01 on Friday, hitting $64.09. The company had a trading volume of 14,630,776 shares, compared to its average volume of 20,161,810. The firm has a market capitalization of $253.80 billion, a P/E ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The stock has a 50-day moving average of $60.47 and a 200-day moving average of $60.57.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business's quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Activity

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the transaction, the senior vice president now owns 36,937 shares in the company, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the insider now owns 255,377 shares of the company's stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock worth $4,671,930 over the last quarter. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Citigroup boosted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Finally, New Street Research reissued a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $68.00.

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.