Wrapmanager Inc. acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 11,036 shares of the network equipment provider’s stock, valued at approximately $371,000.

Several other hedge funds have also bought and sold shares of the company. Barnett & Company Inc. raised its position in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after purchasing an additional 3,023 shares during the period. Tortoise Investment Management LLC raised its position in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after purchasing an additional 878 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in Cisco Systems in the second quarter valued at about $104,000. Grove Bank & Trust increased its position in shares of Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after acquiring an additional 2,120 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of Cisco Systems by 10.7% during the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 75.59% of the company’s stock.

In related news, CAO Prat Bhatt sold 2,606 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $95,092.94. Following the sale, the chief accounting officer now owns 89,184 shares of the company’s stock, valued at $3,254,324.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the sale, the insider now directly owns 712,736 shares in the company, valued at approximately $26,014,864. The disclosure for this sale can be found here. In the last three months, insiders have sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on the company. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 price target for the company. in a research note on Monday, September 25th. Oppenheimer reiterated a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research note on Monday, September 25th. ValuEngine upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price target on shares of Cisco Systems in a research note on Thursday, September 28th. Finally, Jefferies Group reiterated a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a research note on Friday, October 6th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and an average price target of $38.80.

Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $41.66 on Tuesday. The firm has a market capitalization of $205,950.00, a P/E ratio of 21.59, a PEG ratio of 3.73 and a beta of 1.19. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a twelve month low of $30.08 and a twelve month high of $41.66.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The company had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. sell-side analysts forecast that Cisco Systems, Inc. will post 2.21 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.16 annualized dividend and a yield of 2.78%. Cisco Systems’s payout ratio is 60.10%.

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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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