Sterling Investment Management Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,553 shares of the network equipment provider’s stock after buying an additional 1,685 shares during the period. Cisco Systems comprises approximately 4.1% of Sterling Investment Management Inc.’s portfolio, making the stock its 6th largest position. Sterling Investment Management Inc.’s holdings in Cisco Systems were worth $2,959,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CSCO. Asset Management Group Inc. raised its stake in shares of Cisco Systems by 0.8% in the fourth quarter. Asset Management Group Inc. now owns 13,196 shares of the network equipment provider’s stock worth $399,000 after buying an additional 107 shares in the last quarter. Commonwealth Financial Services LLC raised its stake in shares of Cisco Systems by 1.2% in the first quarter. Commonwealth Financial Services LLC now owns 10,265 shares of the network equipment provider’s stock worth $339,000 after buying an additional 118 shares in the last quarter. Dynamic Advisors Solutions LLC raised its stake in shares of Cisco Systems by 0.8% in the first quarter. Dynamic Advisors Solutions LLC now owns 21,553 shares of the network equipment provider’s stock worth $729,000 after buying an additional 162 shares in the last quarter. First Command Financial Services Inc. raised its stake in shares of Cisco Systems by 1.5% in the first quarter. First Command Financial Services Inc. now owns 11,187 shares of the network equipment provider’s stock worth $378,000 after buying an additional 166 shares in the last quarter. Finally, Sky Investment Group LLC raised its stake in shares of Cisco Systems by 1.6% in the first quarter. Sky Investment Group LLC now owns 10,962 shares of the network equipment provider’s stock worth $371,000 after buying an additional 175 shares in the last quarter. 75.39% of the stock is owned by hedge funds and other institutional investors.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 31.57 on Friday. The firm has a market capitalization of $157.85 billion, a P/E ratio of 16.03 and a beta of 1.24. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The company’s 50 day moving average price is $31.57 and its 200-day moving average price is $32.44.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm had revenue of $11.94 billion for the quarter, compared to the consensus estimate of $11.90 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, July 5th. This represents a $1.16 annualized dividend and a yield of 3.67%. Cisco Systems’s dividend payout ratio (DPR) is presently 58.29%.

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A number of analysts have recently issued reports on the stock. Citigroup Inc. set a $36.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Friday, May 19th. Sanford C. Bernstein set a $38.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Saturday, July 1st. Berenberg Bank set a $33.00 target price on shares of Cisco Systems and gave the company a “hold” rating in a research note on Saturday, July 1st. Vetr lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price for the company. in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research note on Wednesday, April 26th. Thirteen analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $35.31.

In other Cisco Systems news, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock worth $12,503,407 over the last quarter. 0.11% of the stock is currently owned by company insiders.

Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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