Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 42.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,187 shares of the network equipment provider’s stock after purchasing an additional 2,744 shares during the period. LGT Fund Management Co Ltd.’s holdings in Cisco Systems were worth $544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB boosted its position in Cisco Systems by 0.6% during the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock worth $480,555,000 after purchasing an additional 52,711 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in Cisco Systems by 7.4% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 26,128 shares of the network equipment provider’s stock worth $1,471,000 after acquiring an additional 1,803 shares in the last quarter. Clear Creek Financial Management LLC boosted its stake in shares of Cisco Systems by 9.8% in the third quarter. Clear Creek Financial Management LLC now owns 7,772 shares of the network equipment provider’s stock valued at $414,000 after purchasing an additional 695 shares during the period. Pure Financial Advisors LLC grew its stake in shares of Cisco Systems by 5.8% during the third quarter. Pure Financial Advisors LLC now owns 11,702 shares of the network equipment provider’s stock valued at $623,000 after acquiring an additional 645 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Cisco Systems by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,809 shares of the network equipment provider’s stock valued at $2,491,000 after buying an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 1.0 %

Shares of Cisco Systems stock opened at $63.48 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.87 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 $66.50. The firm has a market capitalization of $252.54 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. The stock’s fifty day moving average is $61.32 and its 200-day moving average is $57.06.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.58%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is currently 71.62%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. The trade was a 10.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total transaction of $180,055.98. Following the completion of the sale, the executive vice president now owns 207,798 shares in the company, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock worth $4,767,206 in the last 90 days. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Morgan Stanley upped their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Tuesday, January 28th. Finally, Bank of America upped their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.63.

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.