Quintet Private Bank Europe S.A. Increases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Quintet Private Bank Europe S.A. grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 635,667 shares of the network equipment provider’s stock after acquiring an additional 92,179 shares during the quarter. Cisco Systems comprises 1.9% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 16th largest holding. Quintet Private Bank Europe S.A.’s holdings in Cisco Systems were worth $33,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in Cisco Systems by 10.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares in the last quarter. IRON Financial LLC purchased a new position in Cisco Systems during the third quarter worth about $856,000. Finally, Valmark Advisers Inc. raised its holdings in Cisco Systems by 4.7% during the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock worth $1,941,000 after purchasing an additional 1,820 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.5 %

CSCO stock traded up $0.26 during trading on Monday, reaching $55.76. The stock had a trading volume of 2,180,678 shares, compared to its average volume of 18,968,541. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $222.52 billion, a P/E ratio of 21.82, a PEG ratio of 4.54 and a beta of 0.83. The firm has a fifty day moving average price of $52.63 and a 200 day moving average price of $49.10.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. Cisco Systems’s dividend payout ratio is currently 62.99%.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Barclays dropped their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Jefferies Financial Group dropped their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $56.74.

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 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.