Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 193.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,494 shares of the network equipment provider’s stock after acquiring an additional 54,342 shares during the period. Bridges Investment Management Inc.’s holdings in Cisco Systems were worth $3,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Promethos Capital LLC lifted its holdings in Cisco Systems by 117.9% during the 2nd quarter. Promethos Capital LLC now owns 66,809 shares of the network equipment provider’s stock worth $3,174,000 after buying an additional 36,150 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Cisco Systems by 52.5% in the second quarter. Canada Pension Plan Investment Board now owns 4,491,389 shares of the network equipment provider’s stock worth $213,386,000 after acquiring an additional 1,545,265 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Cisco Systems by 2.8% during the second quarter. Benjamin Edwards Inc. now owns 8,441 shares of the network equipment provider’s stock worth $401,000 after acquiring an additional 226 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Cisco Systems by 20.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 174,973 shares of the network equipment provider’s stock valued at $8,313,000 after acquiring an additional 29,163 shares in the last quarter. Finally, Ieq Capital LLC boosted its holdings in Cisco Systems by 5.5% in the second quarter. Ieq Capital LLC now owns 247,646 shares of the network equipment provider’s stock valued at $11,766,000 after purchasing an additional 13,020 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 1.7 %

CSCO stock opened at $51.44 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $56.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The company has a fifty day moving average of $48.43 and a 200-day moving average of $48.03. The stock has a market capitalization of $207.24 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.11%. Cisco Systems’s payout ratio is 53.87%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Jefferies Financial Group reduced their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Barclays dropped their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Finally, Rosenblatt Securities lifted their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.89.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at $8,181,307.80. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last ninety days. 0.02% of the stock is currently owned by insiders.

About Cisco Systems

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.