Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by First Interstate Bank

First Interstate Bank boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 31.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 160,316 shares of the network equipment provider’s stock after buying an additional 38,815 shares during the quarter. Cisco Systems accounts for approximately 0.6% of First Interstate Bank’s portfolio, making the stock its 26th largest holding. First Interstate Bank’s holdings in Cisco Systems were worth $8,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealthspire Advisors LLC grew its position in shares of Cisco Systems by 48.1% in the third quarter. Wealthspire Advisors LLC now owns 71,385 shares of the network equipment provider’s stock valued at $3,838,000 after purchasing an additional 23,194 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of Cisco Systems by 0.5% during the third quarter. HBK Sorce Advisory LLC now owns 64,136 shares of the network equipment provider’s stock valued at $3,448,000 after buying an additional 301 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $28,685,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Cisco Systems by 1.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock valued at $240,335,000 after buying an additional 49,700 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC lifted its stake in shares of Cisco Systems by 0.6% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock valued at $9,734,000 after buying an additional 1,097 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Cisco Systems stock traded down $0.32 during midday trading on Tuesday, reaching $47.92. 14,229,345 shares of the stock traded hands, compared to its average volume of 19,646,592. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $49.22 and a two-hundred day moving average price of $50.37. The firm has a market cap of $194.04 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.78 and a beta of 0.87. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion during the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.15 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be paid a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is currently 48.63%.

Analyst Ratings Changes

CSCO has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Morgan Stanley initiated coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company started coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.03.

Insider Buying and Selling

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 in the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

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.