Harel Insurance Investments & Financial Services Ltd. lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,518 shares of the network equipment provider’s stock after purchasing an additional 258 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Cisco Systems were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CSCO. Balasa Dinverno & Foltz LLC increased its stake in Cisco Systems by 27.2% during the third quarter. Balasa Dinverno & Foltz LLC now owns 39,935 shares of the network equipment provider’s stock worth $1,973,000 after acquiring an additional 8,547 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Cisco Systems by 54.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 82,116 shares of the network equipment provider’s stock worth $3,823,000 after acquiring an additional 28,924 shares during the last quarter. Perennial Advisors LLC increased its stake in Cisco Systems by 1.0% during the third quarter. Perennial Advisors LLC now owns 66,344 shares of the network equipment provider’s stock worth $3,278,000 after acquiring an additional 643 shares during the last quarter. River Road Asset Management LLC increased its stake in Cisco Systems by 2.2% during the third quarter. River Road Asset Management LLC now owns 1,139,304 shares of the network equipment provider’s stock worth $56,293,000 after acquiring an additional 24,615 shares during the last quarter. Finally, Means Investment CO. Inc. increased its stake in Cisco Systems by 5.4% during the third quarter. Means Investment CO. Inc. now owns 36,636 shares of the network equipment provider’s stock worth $1,739,000 after acquiring an additional 1,881 shares during the last quarter. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CSCO traded up $0.27 during mid-day trading on Tuesday, reaching $48.37. 15,630,228 shares of the company’s stock traded hands, compared to its average volume of 20,396,289. The stock has a market cap of $207.23 billion, a P/E ratio of 16.97, a P/E/G ratio of 2.37 and a beta of 1.28. The stock’s 50-day moving average is $47.54 and its two-hundred day moving average is $52.00. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 3.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a $0.35 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.89%. Cisco Systems’s payout ratio is 49.12%.

Several equities research analysts have weighed in on the company. Royal Bank of Canada reduced their price objective on Cisco Systems from $64.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Raymond James reissued an “overweight” rating on shares of Cisco Systems in a research note on Friday, August 16th. Cowen reduced their price objective on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Goldman Sachs Group cut Cisco Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $56.00 to $48.00 in a research note on Thursday, October 10th. Finally, Nomura upped their target price on Cisco Systems from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. Cisco Systems has a consensus rating of “Buy” and a consensus target price of $55.64.

In related news, CEO Charles Robbins sold 18,955 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.04, for a total value of $948,508.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. Insiders sold 193,130 shares of company stock valued at $9,359,179 in the last quarter. 0.03% of the stock is owned by company insiders.

Cisco Systems Company 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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