Cisco Systems, Inc. (CSCO) Position Boosted by IBM Retirement Fund

IBM Retirement Fund increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 72.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,651 shares of the network equipment provider’s stock after purchasing an additional 51,384 shares during the period. IBM Retirement Fund’s holdings in Cisco Systems were worth $4,290,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CSCO. Boston Partners boosted its stake in shares of Cisco Systems by 304.2% during the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after purchasing an additional 23,002,159 shares during the period. Karp Capital Management Corp purchased a new position in shares of Cisco Systems during the 1st quarter worth about $109,564,000. Acadian Asset Management LLC boosted its stake in shares of Cisco Systems by 202.3% during the 2nd quarter. Acadian Asset Management LLC now owns 2,809,005 shares of the network equipment provider’s stock worth $87,922,000 after purchasing an additional 1,879,688 shares during the period. Mondrian Investment Partners LTD purchased a new position in shares of Cisco Systems during the 1st quarter worth about $60,047,000. Finally, Locust Wood Capital Advisers LLC purchased a new position in shares of Cisco Systems during the 2nd quarter worth about $31,483,000. 75.38% of the stock is owned by hedge funds and other institutional investors.

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CSCO has been the subject of a number of recent analyst reports. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price target for the company. in a research note on Wednesday, August 30th. Credit Suisse Group reissued an “outperform” rating on shares of Cisco Systems in a research report on Thursday, August 31st. William Blair reissued an “outperform” rating on shares of Cisco Systems in a research report on Monday, July 3rd. Robert W. Baird reissued a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research report on Monday, September 11th. Finally, Wunderlich boosted their price objective on shares of Cisco Systems from $30.00 to $33.00 and gave the company a “hold” rating in a research report on Friday, June 30th. Fifteen research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $35.30.

Shares of Cisco Systems, Inc. (CSCO) opened at 33.26 on Friday. The company’s 50-day moving average is $32.70 and its 200-day moving average is $32.35. The stock has a market capitalization of $164.70 billion, a P/E ratio of 17.51 and a beta of 1.21. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. Cisco Systems’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. On average, equities research analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.16 annualized dividend and a yield of 3.49%. Cisco Systems’s dividend payout ratio is currently 60.73%.

In other Cisco Systems news, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the sale, the chief accounting officer now directly owns 119,996 shares in the company, valued at approximately $3,847,071.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now owns 729,305 shares in the company, valued at $22,710,557.70. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock worth $15,347,574 over the last three months. 0.11% of the stock is currently owned by corporate insiders.

Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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