Janney Montgomery Scott LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,360,587 shares of the network equipment provider’s stock after purchasing an additional 57,234 shares during the period. Janney Montgomery Scott LLC’s holdings in Cisco Systems were worth $58,546,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Cisco Systems by 47.1% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock valued at $5,191,000 after buying an additional 38,725 shares during the period. Covington Investment Advisors Inc. acquired a new position in shares of Cisco Systems in the 1st quarter valued at about $5,331,000. Winfield Associates Inc. boosted its holdings in shares of Cisco Systems by 121.0% in the 1st quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock valued at $200,000 after buying an additional 2,557 shares during the period. United Capital Financial Advisers LLC boosted its holdings in shares of Cisco Systems by 2.8% in the 1st quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock valued at $89,158,000 after buying an additional 56,027 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Cisco Systems by 29.6% in the 1st quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock valued at $89,873,000 after buying an additional 478,673 shares during the period. 71.39% of the stock is owned by institutional investors.

Shares of NASDAQ:CSCO opened at $48.47 on Wednesday. The company has a market capitalization of $233.94 billion, a PE ratio of 20.71, a P/E/G ratio of 2.87 and a beta of 1.06. Cisco Systems, Inc. has a twelve month low of $33.17 and a twelve month high of $48.88. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

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

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, October 4th. Cisco Systems’s dividend payout ratio is currently 56.41%.

In other news, Chairman Charles Robbins sold 217,420 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $47.28, for a total value of $10,279,617.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the completion of the sale, the chief financial officer now directly owns 720,930 shares of the company’s stock, valued at $34,027,896. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 450,620 shares of company stock valued at $21,322,282. Company insiders own 0.05% of the company’s stock.

Several research firms have recently commented on CSCO. Piper Jaffray Companies set a $50.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Monday, July 9th. Credit Suisse Group lifted their price target on shares of Cisco Systems from $41.00 to $43.00 and gave the company a “hold” rating in a report on Thursday, August 16th. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. BidaskClub lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, BMO Capital Markets boosted their target price on shares of Cisco Systems from $43.00 to $48.00 and gave the company a “market perform” rating in a research note on Thursday, August 16th. Nine research 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’s stock. Cisco Systems currently has an average rating of “Buy” and an average target price of $47.76.

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 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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