Point72 Europe London LLP Acquires 68,000 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Point72 Europe London LLP increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 31.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 281,400 shares of the network equipment provider's stock after purchasing an additional 68,000 shares during the period. Point72 Europe London LLP's holdings in Cisco Systems were worth $16,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $26,000. Navigoe LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $30,000. Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth about $31,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth approximately $36,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the sale, the chief financial officer now directly owns 335,605 shares of the company's stock, valued at $21,616,318.05. This represents a 5.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares of the company's stock, valued at approximately $47,413,489.20. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $61.29 on Thursday. The stock has a market capitalization of $243.83 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The business has a 50-day moving average of $58.65 and a 200-day moving average of $59.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly 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. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the business earned $0.88 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.68%. Cisco Systems's dividend payout ratio (DPR) is 71.62%.

Analysts Set New Price Targets

A number of brokerages recently commented on CSCO. Evercore ISI reduced their price objective on Cisco Systems from $75.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. BNP Paribas raised shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price target for the company in a research report on Tuesday, January 28th. StockNews.com cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 5th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Rosenblatt Securities dropped their price objective on Cisco Systems from $80.00 to $63.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.05.

Cisco Systems 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.

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