Nissay Asset Management Corp Japan ADV Acquires 34,557 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Nissay Asset Management Corp Japan ADV boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 910,361 shares of the network equipment provider's stock after buying an additional 34,557 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Cisco Systems were worth $54,267,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Nan Shan Life Insurance Co. Ltd. increased its position in shares of Cisco Systems by 63.1% during the 4th quarter. Nan Shan Life Insurance Co. Ltd. now owns 485,832 shares of the network equipment provider's stock valued at $28,761,000 after purchasing an additional 188,000 shares during the last quarter. Nearwater Capital Markets Ltd purchased a new stake in shares of Cisco Systems during the 4th quarter valued at about $19,536,000. NorthRock Partners LLC increased its position in shares of Cisco Systems by 306.5% during the 4th quarter. NorthRock Partners LLC now owns 56,450 shares of the network equipment provider's stock valued at $3,342,000 after purchasing an additional 42,562 shares during the last quarter. Northwest Quadrant Wealth Management LLC grew its stake in shares of Cisco Systems by 5.5% during the 4th quarter. Northwest Quadrant Wealth Management LLC now owns 10,796 shares of the network equipment provider's stock valued at $639,000 after acquiring an additional 564 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of Cisco Systems by 19.1% during the 4th quarter. Nuveen Asset Management LLC now owns 15,496,389 shares of the network equipment provider's stock valued at $917,386,000 after acquiring an additional 2,483,776 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday. The Goldman Sachs Group boosted their price objective on Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $72.00 to $75.00 in a research note on Thursday. Finally, Rosenblatt Securities boosted their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.47.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the completion of the sale, the executive vice president now owns 200,191 shares of the company's stock, valued at approximately $12,886,294.67. This represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,635 shares of company stock worth $931,901. 0.01% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $0.64 during midday trading on Friday, reaching $63.62. 30,263,445 shares of the stock traded hands, compared to its average volume of 20,420,202. 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 market capitalization of $253.10 billion, a PE ratio of 27.78, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company's 50 day moving average is $58.75 and its 200 day moving average is $59.66.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.05. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. During the same period in the prior year, the company earned $0.88 EPS. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given 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 dividend yield of 2.58%. Cisco Systems's dividend payout ratio is currently 71.62%.

Cisco Systems announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

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.