Cornerstone Capital Inc. Buys 6,647 Shares of Cisco Systems, Inc. $CSCO

Cornerstone Capital Inc. raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 305,040 shares of the network equipment provider’s stock after buying an additional 6,647 shares during the quarter. Cisco Systems comprises 2.0% of Cornerstone Capital Inc.’s portfolio, making the stock its 19th biggest position. Cornerstone Capital Inc.’s holdings in Cisco Systems were worth $20,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Cisco Systems by 1.3% in the second quarter. Vanguard Group Inc. now owns 393,989,568 shares of the network equipment provider’s stock valued at $27,334,996,000 after purchasing an additional 5,039,714 shares in the last quarter. State Street Corp grew its holdings in shares of Cisco Systems by 0.6% in the 2nd quarter. State Street Corp now owns 194,695,250 shares of the network equipment provider’s stock valued at $13,507,956,000 after buying an additional 1,067,872 shares during the period. Geode Capital Management LLC increased its position in shares of Cisco Systems by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 99,252,395 shares of the network equipment provider’s stock valued at $6,864,058,000 after buying an additional 1,157,704 shares in the last quarter. Norges Bank acquired a new stake in Cisco Systems during the 2nd quarter worth $3,816,825,000. Finally, Invesco Ltd. lifted its holdings in Cisco Systems by 3.0% during the second quarter. Invesco Ltd. now owns 48,531,251 shares of the network equipment provider’s stock worth $3,367,098,000 after acquiring an additional 1,414,105 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. HSBC raised their price target on Cisco Systems from $74.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. UBS Group raised their target price on shares of Cisco Systems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. DZ Bank upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, February 13th. President Capital lowered their price objective on shares of Cisco Systems from $90.00 to $88.00 in a research report on Wednesday, December 24th. Finally, Erste Group Bank cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.55.

Cisco Systems Price Performance

NASDAQ CSCO opened at $77.74 on Tuesday. The firm’s 50 day moving average is $77.70 and its 200-day moving average is $73.54. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $307.06 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 2.99 and a beta of 0.87. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $88.18.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be given a $0.42 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 57.54%.

Insider Buying and Selling at Cisco Systems

In other news, Director Kristina M. Johnson sold 13,481 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $77.13, for a total transaction of $1,039,789.53. Following the sale, the director owned 61,630 shares in the company, valued at $4,753,521.90. This represents a 17.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles Robbins sold 19,545 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the sale, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. The trade was a 2.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 73,498 shares of company stock valued at $5,641,815 in the last ninety days. Insiders own 0.01% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.