Financiere des Professionnels Fonds d investissement inc. Increases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Financiere des Professionnels Fonds d investissement inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 70.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,624 shares of the network equipment provider’s stock after purchasing an additional 10,983 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Cisco Systems were worth $1,643,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $3,297,905,000. FMR LLC raised its stake in Cisco Systems by 20.8% in the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after acquiring an additional 13,285,052 shares during the period. Alyeska Investment Group L.P. purchased a new stake in Cisco Systems during the fourth quarter valued at about $413,491,000. GAMMA Investing LLC grew its stake in Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock valued at $414,593,000 after buying an additional 6,625,045 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Cisco Systems by 187.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock valued at $442,749,000 after purchasing an additional 4,880,747 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $69.64 on Friday. The company has a market capitalization of $275.77 billion, a P/E ratio of 28.42, a PEG ratio of 4.15 and a beta of 0.90. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock has a 50 day moving average price of $63.93 and a two-hundred day moving average price of $61.48.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the prior year, the company posted $0.88 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.35%. Cisco Systems’s dividend payout ratio is presently 66.94%.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 15,678 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer owned 309,543 shares of the company’s stock, valued at $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer directly owned 688,409 shares in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last 90 days. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

CSCO has been the subject of a number of analyst reports. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Citigroup raised their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Evercore ISI upped their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the company from $65.00 to $73.00 in a report on Monday, June 16th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.53.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.