315,640 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 315,640 shares of the network equipment provider’s stock, valued at approximately $16,798,000.

Other large investors have also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Cisco Systems during the 2nd quarter worth $25,000. Quarry LP increased its stake in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC raised its position in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems in the second quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Tigress Financial lifted their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 342,858 shares of company stock valued at $19,661,157 in the last three months. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Up 0.3 %

Shares of NASDAQ CSCO opened at $58.74 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a 50-day moving average price of $55.17 and a 200-day moving average price of $50.24. The stock has a market capitalization of $233.95 billion, a P/E ratio of 25.21, a P/E/G ratio of 4.37 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Cisco Systems Company Profile

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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.