Eastern Bank raised its position in Cisco Systems Inc. (NASDAQ:CSCO) by 1.5% during the second quarter, Holdings Channel reports. The institutional investor owned 116,471 shares of the network equipment provider’s stock after buying an additional 1,667 shares during the period. Eastern Bank’s holdings in Cisco Systems were worth $3,341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSCO. British Columbia Investment Management Corp boosted its position in Cisco Systems by 4.4% in the second quarter. British Columbia Investment Management Corp now owns 3,099,966 shares of the network equipment provider’s stock worth $88,938,000 after buying an additional 129,545 shares in the last quarter. Primecap Management Co. CA boosted its position in Cisco Systems by 16.0% in the first quarter. Primecap Management Co. CA now owns 29,127,015 shares of the network equipment provider’s stock worth $829,246,000 after buying an additional 4,013,625 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Cisco Systems by 1.4% in the first quarter. Panagora Asset Management Inc. now owns 4,952,008 shares of the network equipment provider’s stock worth $140,984,000 after buying an additional 70,367 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Cisco Systems by 7.7% in the first quarter. Loomis Sayles & Co. L P now owns 34,340,695 shares of the network equipment provider’s stock worth $977,679,000 after buying an additional 2,469,580 shares in the last quarter. Finally, Investec Asset Management LTD boosted its position in Cisco Systems by 5.7% in the first quarter. Investec Asset Management LTD now owns 10,819,690 shares of the network equipment provider’s stock worth $308,037,000 after buying an additional 581,688 shares in the last quarter. 75.04% of the stock is currently owned by institutional investors.

Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 1.50% during trading on Friday, reaching $30.84. The company’s stock had a trading volume of 37,416,316 shares. The firm has a market capitalization of $154.64 billion, a P/E ratio of 14.62 and a beta of 1.37. The company has a 50 day moving average price of $31.06 and a 200 day moving average price of $28.94. Cisco Systems Inc. has a 52 week low of $22.46 and a 52 week high of $31.95.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The company earned $12.60 billion during the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. Cisco Systems’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 EPS. On average, equities research analysts expect that Cisco Systems Inc. will post $2.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Monday, October 3rd. Cisco Systems’s payout ratio is currently 49.06%.

A number of analysts have issued reports on CSCO shares. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 price objective on the stock. in a research note on Monday, September 5th. Jefferies Group reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Monday, August 29th. Deutsche Bank AG lifted their price objective on Cisco Systems from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $34.00 price objective (up previously from $30.00) on shares of Cisco Systems in a research note on Friday, August 5th. Finally, Argus lifted their price objective on Cisco Systems from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have given a buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $31.97.

In other news, SVP Karen Walker sold 19,504 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $31.04, for a total value of $605,404.16. Following the completion of the sale, the senior vice president now directly owns 148,869 shares of the company’s stock, valued at approximately $4,620,893.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Pankaj Patel sold 4,133 shares of the business’s stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $29.02, for a total value of $119,939.66. Following the completion of the sale, the executive vice president now directly owns 359,174 shares of the company’s stock, valued at $10,423,229.48. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

About Cisco Systems

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

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