Johnston Asset Management LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 709,878 shares of the network equipment provider’s stock after purchasing an additional 7,640 shares during the period. Cisco Systems makes up about 1.0% of Johnston Asset Management LLC’s holdings, making the stock its 28th largest holding. Johnston Asset Management LLC’s holdings in Cisco Systems were worth $22,219,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CSCO. Watermark Asset Management Inc. acquired a new stake in shares of Cisco Systems in the first quarter valued at $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after acquiring an additional 560 shares in the last quarter. Baystate Wealth Management LLC raised its stake in shares of Cisco Systems by 24.5% in the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock valued at $146,000 after acquiring an additional 1,484 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in shares of Cisco Systems by 23.1% in the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock valued at $148,000 after acquiring an additional 823 shares in the last quarter. Finally, Thompson Davis & CO. Inc. raised its stake in shares of Cisco Systems by 14.3% in the first quarter. Thompson Davis & CO. Inc. now owns 4,441 shares of the network equipment provider’s stock valued at $150,000 after acquiring an additional 555 shares in the last quarter. Institutional investors own 75.32% of the company’s stock.

In related news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the sale, the insider now owns 729,305 shares in the company, valued at approximately $22,710,557.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 121,390 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the completion of the sale, the chief executive officer now owns 552,694 shares of the company’s stock, valued at approximately $17,719,369.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 485,138 shares of company stock valued at $15,347,574. 0.11% of the stock is owned by insiders.

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Several analysts have recently issued reports on the company. Zacks Investment Research cut Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday. KeyCorp set a $33.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Wednesday, October 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Thursday, October 12th. Credit Suisse Group reiterated a “hold” rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Friday, October 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and an average price target of $35.30.

Cisco Systems, Inc. (NASDAQ:CSCO) opened at 33.60 on Wednesday. The firm has a market capitalization of $166.39 billion, a P/E ratio of 17.68 and a beta of 1.21. 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 $32.80 and its 200 day moving average price is $32.33.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period in the prior year, the business earned $0.63 earnings per share. The business’s quarterly revenue was down 4.0% on a year-over-year basis. Analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.45%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.

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).

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

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