German American Bancorp Inc. Purchases 9,038 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

German American Bancorp Inc. increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,204 shares of the network equipment provider’s stock after acquiring an additional 9,038 shares during the quarter. German American Bancorp Inc.’s holdings in Cisco Systems were worth $5,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSCO. Foundry Partners LLC bought a new position in Cisco Systems during the third quarter worth $15,911,000. Cypress Capital Group grew its position in Cisco Systems by 1.2% in the 3rd quarter. Cypress Capital Group now owns 93,129 shares of the network equipment provider’s stock worth $4,956,000 after purchasing an additional 1,088 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Cisco Systems by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 272,068 shares of the network equipment provider’s stock worth $14,479,000 after purchasing an additional 7,421 shares during the period. Payden & Rygel raised its position in shares of Cisco Systems by 625.1% during the third quarter. Payden & Rygel now owns 256,470 shares of the network equipment provider’s stock valued at $13,649,000 after buying an additional 221,100 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in shares of Cisco Systems by 115.4% in the third quarter. Pzena Investment Management LLC now owns 2,228,564 shares of the network equipment provider’s stock valued at $118,604,000 after buying an additional 1,193,850 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Cisco Systems stock opened at $57.50 on Thursday. The stock has a 50-day simple moving average of $54.68 and a 200 day simple moving average of $50.00. The stock has a market capitalization of $229.47 billion, a price-to-earnings ratio of 24.68, a P/E/G ratio of 4.63 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent research reports. Morgan Stanley upped their price target on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Barclays raised their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Rosenblatt Securities upped their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Insider Activity

In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the transaction, the executive vice president now directly owns 219,100 shares in the company, valued at approximately $12,596,059. The trade was a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 321,628 shares of company stock valued at $18,449,561. Company insiders own 0.01% of the company’s stock.

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.