Mairs & Power Inc. Purchases 1,356 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mairs & Power Inc. grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,780 shares of the network equipment provider’s stock after purchasing an additional 1,356 shares during the quarter. Mairs & Power Inc.’s holdings in Cisco Systems were worth $1,939,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Horizon Investments LLC raised its holdings in Cisco Systems by 2.5% during the 1st quarter. Horizon Investments LLC now owns 193,723 shares of the network equipment provider’s stock worth $10,728,000 after purchasing an additional 4,791 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in Cisco Systems during the 1st quarter worth approximately $9,165,000. Kensington Investment Counsel LLC raised its holdings in Cisco Systems by 10.7% during the 1st quarter. Kensington Investment Counsel LLC now owns 19,031 shares of the network equipment provider’s stock worth $1,061,000 after purchasing an additional 1,842 shares during the last quarter. Graham Capital Management L.P. bought a new position in Cisco Systems during the 1st quarter worth approximately $1,208,000. Finally, Achmea Investment Management B.V. grew its position in shares of Cisco Systems by 5.9% during the 1st quarter. Achmea Investment Management B.V. now owns 481,837 shares of the network equipment provider’s stock worth $26,867,000 after buying an additional 27,049 shares during the period. Institutional investors own 71.71% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, SVP Prat Bhatt sold 3,453 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $48.39, for a total value of $167,090.67. Following the sale, the senior vice president now directly owns 75,443 shares in the company, valued at approximately $3,650,686.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Maria Martinez sold 2,831 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $48.39, for a total value of $136,992.09. Following the sale, the chief operating officer now directly owns 278,012 shares in the company, valued at approximately $13,453,000.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prat Bhatt sold 3,453 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $48.39, for a total value of $167,090.67. Following the completion of the sale, the senior vice president now owns 75,443 shares in the company, valued at $3,650,686.77. The disclosure for this sale can be found here. Insiders have sold 37,119 shares of company stock worth $1,746,628 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on CSCO shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $51.00 price objective (down previously from $62.00) on shares of Cisco Systems in a research report on Thursday, July 14th. Evercore ISI raised their price objective on shares of Cisco Systems from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. UBS Group raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cisco Systems from $51.00 to $54.00 in a research report on Friday, August 19th. Finally, Morgan Stanley raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.59.

Cisco Systems Price Performance

CSCO opened at $45.77 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.33. The company has a market capitalization of $189.53 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 2.25 and a beta of 0.96. The firm’s fifty day moving average price is $45.01 and its two-hundred day moving average price is $48.25. Cisco Systems, Inc. has a 1 year low of $40.82 and a 1 year high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its earnings results on Wednesday, August 17th. The network equipment provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $13.10 billion for the quarter, compared to analysts’ expectations of $12.78 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Tuesday, October 4th. Cisco Systems’s payout ratio is 53.90%.

Cisco Systems Profile

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Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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

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