Financiere des Professionnels Fonds d investissement inc. Has $1.64 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Financiere des Professionnels Fonds d investissement inc. lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 70.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,624 shares of the network equipment provider’s stock after buying an additional 10,983 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Cisco Systems were worth $1,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC lifted its stake in shares of Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Norges Bank acquired a new position in Cisco Systems in the fourth quarter valued at about $3,297,905,000. Northern Trust Corp boosted its holdings in Cisco Systems by 11.4% during the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider’s stock worth $2,796,505,000 after buying an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Cisco Systems by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider’s stock valued at $2,159,099,000 after purchasing an additional 2,637,006 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Cisco Systems by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider’s stock worth $1,741,597,000 after purchasing an additional 681,555 shares during the period. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of recent analyst reports. KeyCorp began coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $73.00 in a report on Monday, June 16th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. boosted their price target on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $69.53.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $69.64 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a market cap of $275.77 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 4.15 and a beta of 0.90. The stock’s fifty day moving average price is $63.93 and its two-hundred day moving average price is $61.48. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Insider Activity

In related news, EVP Oliver Tuszik sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the sale, the executive vice president directly owned 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider directly owned 257,162 shares of the company’s stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,335 shares of company stock worth $6,271,054. 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.