Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Atomi Financial Group Inc.

Atomi Financial Group Inc. boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.4% in the fourth quarter, HoldingsChannel reports. The firm owned 24,425 shares of the network equipment provider’s stock after buying an additional 2,685 shares during the period. Atomi Financial Group Inc.’s holdings in Cisco Systems were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after buying an additional 288,775 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Cisco Systems in the 3rd quarter worth approximately $798,000. HighVista Strategies LLC purchased a new stake in Cisco Systems in the 3rd quarter worth approximately $1,698,000. GAMMA Investing LLC grew its stake in shares of Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its holdings in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 1.3 %

Shares of NASDAQ CSCO opened at $61.03 on Wednesday. The stock has a market cap of $243.07 billion, a PE ratio of 26.19, a P/E/G ratio of 4.48 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 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 $61.33. The company has a 50-day moving average of $58.94 and a 200 day moving average of $53.70.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the company from $66.00 to $73.00 in a research report on Monday, January 6th. UBS Group raised their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Barclays raised their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

Insider Activity

In other news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems 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 $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% 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.