Fisher Asset Management LLC Acquires 100,293 Shares of Cisco Systems, Inc. $CSCO

Fisher Asset Management LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 43.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 329,668 shares of the network equipment provider’s stock after purchasing an additional 100,293 shares during the quarter. Fisher Asset Management LLC’s holdings in Cisco Systems were worth $22,556,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Cisco Systems by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 393,989,568 shares of the network equipment provider’s stock worth $27,334,996,000 after purchasing an additional 5,039,714 shares during the period. State Street Corp boosted its stake in shares of Cisco Systems by 0.6% in the 2nd quarter. State Street Corp now owns 194,695,250 shares of the network equipment provider’s stock worth $13,507,956,000 after buying an additional 1,067,872 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cisco Systems by 1.2% in the second quarter. Geode Capital Management LLC now owns 99,252,395 shares of the network equipment provider’s stock worth $6,864,058,000 after acquiring an additional 1,157,704 shares during the period. Norges Bank purchased a new stake in Cisco Systems during the second quarter valued at $3,816,825,000. Finally, Invesco Ltd. increased its position in Cisco Systems by 3.0% during the second quarter. Invesco Ltd. now owns 48,531,251 shares of the network equipment provider’s stock valued at $3,367,098,000 after acquiring an additional 1,414,105 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CSCO shares. UBS Group boosted their price target on Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. HSBC boosted their target price on shares of Cisco Systems from $74.00 to $77.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Piper Sandler increased their price target on shares of Cisco Systems from $70.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Argus raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Finally, Wall Street Zen upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.55.

Cisco Systems Stock Performance

CSCO opened at $78.96 on Wednesday. The company has a 50 day simple moving average of $77.86 and a two-hundred day simple moving average of $73.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The firm has a market cap of $311.88 billion, a P/E ratio of 27.71, a PEG ratio of 3.00 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $88.18.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company had revenue of $15.35 billion for the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter in the previous year, the company earned $0.94 EPS. Cisco Systems’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 2nd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. Cisco Systems’s dividend payout ratio (DPR) is 57.54%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 13,481 shares of the stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $77.13, for a total transaction of $1,039,789.53. Following the completion of the transaction, the director owned 61,630 shares of the company’s stock, valued at $4,753,521.90. This represents a 17.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 19,545 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the transaction, the chief executive officer owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. The trade was a 2.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 75,677 shares of company stock valued at $5,811,211. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.