Cisco Systems, Inc. (NASDAQ:CSCO) is First Trust Advisors LP’s Largest Position

First Trust Advisors LP grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 155.6% in the third quarter, Holdings Channel.com reports. The firm owned 17,446,107 shares of the network equipment provider’s stock after acquiring an additional 10,621,798 shares during the quarter. Cisco Systems makes up approximately 1.6% of First Trust Advisors LP’s investment portfolio, making the stock its biggest position. First Trust Advisors LP’s holdings in Cisco Systems were worth $862,012,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC lifted its holdings in Cisco Systems by 1,546.1% in the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after acquiring an additional 45,351,980 shares during the last quarter. Parnassus Investments CA acquired a new position in Cisco Systems in the third quarter valued at approximately $444,882,000. Thoroughbred Financial Services LLC lifted its holdings in Cisco Systems by 5,677.4% in the second quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock valued at $361,628,000 after acquiring an additional 3,553,686 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Cisco Systems in the second quarter valued at approximately $125,277,000. Finally, Railway Pension Investments Ltd acquired a new position in Cisco Systems during the second quarter worth $10,371,000. Institutional investors and hedge funds own 73.27% of the company’s stock.

A number of research analysts have commented on the company. Cowen decreased their price target on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Raymond James reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. Robert W. Baird set a $54.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research report on Friday, September 13th. Credit Suisse Group reaffirmed a “neutral” rating and set a $49.00 price objective (down previously from $50.00) on shares of Cisco Systems in a research report on Tuesday. Finally, JPMorgan Chase & Co. set a $62.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $55.92.

In other Cisco Systems news, CEO Charles Robbins sold 18,955 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.04, for a total transaction of $948,508.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Goeckeler sold 70,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $49.22, for a total value of $3,445,400.00. Following the transaction, the executive vice president now directly owns 429,398 shares in the company, valued at approximately $21,134,969.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 193,130 shares of company stock worth $9,359,179. Corporate insiders own 0.03% of the company’s stock.

NASDAQ:CSCO traded up $0.41 during trading hours on Friday, hitting $48.83. The company’s stock had a trading volume of 14,396,363 shares, compared to its average volume of 20,421,887. The stock has a market capitalization of $202.69 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The stock has a fifty day moving average of $47.57 and a 200-day moving average of $52.11. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $58.26.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Thursday, October 3rd. Cisco Systems’s payout ratio is 49.12%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Further Reading: What is systematic risk?

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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