Rafferty Asset Management LLC Acquires 9,112 Shares of Cisco Systems, Inc. (CSCO)

Rafferty Asset Management LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 38.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,915 shares of the network equipment provider’s stock after buying an additional 9,112 shares during the period. Rafferty Asset Management LLC’s holdings in Cisco Systems were worth $995,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CSCO. Dubuque Bank & Trust Co. increased its stake in Cisco Systems by 44.6% in the third quarter. Dubuque Bank & Trust Co. now owns 340,949 shares of the network equipment provider’s stock worth $10,815,000 after buying an additional 105,162 shares during the period. Franklin Street Advisors Inc. NC increased its stake in Cisco Systems by 3.0% in the third quarter. Franklin Street Advisors Inc. NC now owns 359,679 shares of the network equipment provider’s stock worth $11,409,000 after buying an additional 10,602 shares during the period. Bailard Inc. increased its stake in Cisco Systems by 40.4% in the third quarter. Bailard Inc. now owns 231,621 shares of the network equipment provider’s stock worth $7,347,000 after buying an additional 66,612 shares during the period. First Personal Financial Services increased its stake in Cisco Systems by 9.8% in the third quarter. First Personal Financial Services now owns 121,998 shares of the network equipment provider’s stock worth $3,870,000 after buying an additional 10,896 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in Cisco Systems by 81.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 1,703,905 shares of the network equipment provider’s stock worth $54,048,000 after buying an additional 765,452 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

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

Cisco Systems, Inc. (NASDAQ:CSCO) traded down 0.03% during mid-day trading on Friday, hitting $32.82. 13,627,726 shares of the stock traded hands. The firm’s 50-day moving average price is $33.65 and its 200-day moving average price is $31.59. Cisco Systems, Inc. has a 52 week low of $25.81 and a 52 week high of $34.53. The firm has a market cap of $164.36 billion, a P/E ratio of 16.92 and a beta of 1.36.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 15th. The network equipment provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.56 by $0.01. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The company had revenue of $11.60 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Thursday, April 6th will be given a dividend of $0.29 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.26. This represents a $1.16 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Tuesday, April 4th. Cisco Systems’s payout ratio is presently 49.52%.

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CSCO has been the subject of a number of recent research reports. Wunderlich reiterated a “hold” rating and set a $27.00 price objective on shares of Cisco Systems in a research report on Thursday, February 16th. Deutsche Bank AG reiterated a “buy” rating and set a $42.00 price objective on shares of Cisco Systems in a research report on Monday, April 10th. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of Cisco Systems in a research report on Friday, February 17th. Zacks Investment Research downgraded Cisco Systems from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Credit Suisse Group AG reiterated an “underperform” rating and set a $25.00 price objective on shares of Cisco Systems in a research report on Thursday, December 29th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $34.23.

In related news, Director Steven M. West acquired 3,027 shares of Cisco Systems stock in a transaction on Wednesday, February 22nd. The shares were acquired at an average cost of $33.92 per share, with a total value of $102,675.84. Following the transaction, the director now owns 3,700 shares in the company, valued at $125,504. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Prat Bhatt sold 15,672 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $34.27, for a total transaction of $537,079.44. Following the transaction, the senior vice president now directly owns 77,174 shares in the company, valued at $2,644,752.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,807 shares of company stock worth $12,668,893. Insiders own 0.11% of the company’s stock.

About Cisco Systems

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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