Bank of The West grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,426 shares of the network equipment provider’s stock after acquiring an additional 10,899 shares during the quarter. Bank of The West’s holdings in Cisco Systems were worth $4,064,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Certified Advisory Corp purchased a new stake in shares of Cisco Systems during the fourth quarter worth approximately $116,000. Trustcore Financial Services LLC raised its stake in shares of Cisco Systems by 143.5% during the first quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock worth $141,000 after purchasing an additional 1,941 shares during the last quarter. Smart Portfolios LLC purchased a new stake in shares of Cisco Systems during the first quarter worth approximately $146,000. Legacy Advisors LLC raised its stake in shares of Cisco Systems by 597.6% during the second quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock worth $148,000 after purchasing an additional 2,940 shares during the last quarter. Finally, Stelac Advisory Services LLC purchased a new stake in shares of Cisco Systems during the first quarter worth approximately $149,000. 71.39% of the stock is owned by institutional investors and hedge funds.

Cisco Systems stock opened at $48.41 on Thursday. The company has a current ratio of 2.29, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $233.36 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.86 and a beta of 1.06. Cisco Systems, Inc. has a fifty-two week low of $33.17 and a fifty-two week high of $49.06.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. Cisco Systems’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. equities analysts predict that Cisco Systems, Inc. will post 2.67 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.73%. The ex-dividend date is Thursday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 56.41%.

Several equities research analysts have recently commented on CSCO shares. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Tuesday, July 24th. JPMorgan Chase & Co. restated a “buy” rating on shares of Cisco Systems in a research note on Monday, June 11th. Piper Jaffray Companies set a $50.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research report on Monday, July 9th. BidaskClub upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, July 3rd. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $56.00 price objective on shares of Cisco Systems in a research report on Thursday, August 16th. Nine investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $48.37.

In other Cisco Systems news, EVP David Goeckeler sold 63,050 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $47.57, for a total value of $2,999,288.50. Following the sale, the executive vice president now owns 547,019 shares of the company’s stock, valued at $26,021,693.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total value of $3,304,000.00. Following the completion of the sale, the chief financial officer now directly owns 720,930 shares in the company, valued at approximately $34,027,896. The disclosure for this sale can be found here. Insiders sold 450,620 shares of company stock worth $21,322,282 in the last three months. 0.05% of the stock is owned by corporate insiders.

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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