Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by DNB Asset Management AS

DNB Asset Management AS increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 24.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,898,241 shares of the network equipment provider’s stock after buying an additional 367,328 shares during the quarter. Cisco Systems comprises 0.8% of DNB Asset Management AS’s portfolio, making the stock its 25th largest holding. DNB Asset Management AS’s holdings in Cisco Systems were worth $74,772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hoey Investments Inc. acquired a new position in Cisco Systems during the 2nd quarter worth $26,000. FNY Investment Advisers LLC increased its holdings in shares of Cisco Systems by 79,900.0% during the third quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 799 shares during the period. Emerald Advisers LLC bought a new stake in shares of Cisco Systems during the second quarter valued at about $38,000. Larson Financial Group LLC lifted its holdings in Cisco Systems by 61.1% in the second quarter. Larson Financial Group LLC now owns 939 shares of the network equipment provider’s stock worth $44,000 after purchasing an additional 356 shares during the period. Finally, Ovata Capital Management Ltd bought a new position in Cisco Systems in the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

A number of analysts have recently weighed in on the stock. Citigroup lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $48.00 to $43.00 in a research note on Monday, October 12th. Barclays lowered Cisco Systems to a “hold” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. dropped their price objective on Cisco Systems from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Thursday, August 13th. Morgan Stanley reaffirmed a “buy” rating and set a $54.00 target price on shares of Cisco Systems in a research note on Thursday, August 13th. Finally, ValuEngine cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.45.

In related news, CEO Charles Robbins sold 7,806 shares of Cisco Systems stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $42.10, for a total transaction of $328,632.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Prat Bhatt sold 2,873 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $42.11, for a total value of $120,982.03. Following the completion of the transaction, the chief accounting officer now owns 82,006 shares in the company, valued at approximately $3,453,272.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,166 shares of company stock valued at $2,528,248. 0.03% of the stock is currently owned by corporate insiders.

CSCO opened at $40.16 on Friday. The firm has a market capitalization of $170.01 billion, a P/E ratio of 15.27, a PEG ratio of 2.16 and a beta of 0.87. The stock has a fifty day moving average of $39.95 and a 200-day moving average of $43.30. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.31. Cisco Systems, Inc. has a 12-month low of $32.40 and a 12-month high of $50.28.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. Cisco Systems had a return on equity of 34.75% and a net margin of 22.75%. The firm had revenue of $12.15 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. On average, analysts expect that Cisco Systems, Inc. will post 2.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, October 1st. Cisco Systems’s dividend payout ratio (DPR) is 49.32%.

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.

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

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