Iberiabank Corp boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,690 shares of the network equipment provider’s stock after purchasing an additional 4,230 shares during the period. Cisco Systems makes up approximately 1.7% of Iberiabank Corp’s investment portfolio, making the stock its 15th biggest holding. Iberiabank Corp’s holdings in Cisco Systems were worth $5,624,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Financial Management Professionals Inc. increased its position in shares of Cisco Systems by 17.7% during the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock worth $118,000 after acquiring an additional 635 shares during the period. Watermark Asset Management Inc. purchased a new position in shares of Cisco Systems during the first quarter worth approximately $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in shares of Cisco Systems by 15.0% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after acquiring an additional 560 shares during the period. Baystate Wealth Management LLC increased its position in shares of Cisco Systems by 24.5% during the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after acquiring an additional 1,484 shares during the period. Finally, Riggs Asset Managment Co. Inc. increased its position in shares of Cisco Systems by 23.1% during the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock worth $148,000 after acquiring an additional 823 shares during the period. 75.37% of the stock is owned by institutional investors and hedge funds.

In other Cisco Systems news, SVP Karen Walker sold 23,110 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the completion of the transaction, the senior vice president now directly owns 192,774 shares in the company, valued at approximately $6,180,334.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the transaction, the insider now owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock valued at $15,347,574 in the last quarter. Company insiders own 0.11% of the company’s stock.

Cisco Systems, Inc. (NASDAQ CSCO) traded up 2.05% during mid-day trading on Friday, hitting $33.37. 28,234,858 shares of the stock were exchanged. The company has a 50-day moving average price of $31.72 and a 200-day moving average price of $32.41. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The company has a market cap of $165.25 billion, a P/E ratio of 17.56 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. Analysts forecast that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.73%.

A number of equities analysts have recently commented on the stock. Berenberg Bank set a $33.00 target price on shares of Cisco Systems and gave the stock a “hold” rating in a research report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Saturday, July 1st. Stifel Nicolaus set a $34.00 target price on shares of Cisco Systems and gave the stock a “hold” rating in a research report on Tuesday, August 15th. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. Finally, Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 target price on the stock in a research report on Thursday, July 6th. Fourteen analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $35.57.

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Cisco Systems 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).

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

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