CI Investments Inc. Buys 26,129 Shares of Cisco Systems, Inc. $CSCO

CI Investments Inc. boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 376,279 shares of the network equipment provider’s stock after buying an additional 26,129 shares during the quarter. CI Investments Inc.’s holdings in Cisco Systems were worth $25,745,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 5,039,714 shares during the last quarter. State Street Corp lifted its position 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 worth $13,507,956,000 after purchasing an additional 1,067,872 shares during the period. Geode Capital Management LLC boosted its stake 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 purchasing an additional 1,157,704 shares during the last quarter. Norges Bank bought a new stake in shares of Cisco Systems in the 2nd quarter valued at $3,816,825,000. Finally, Invesco Ltd. increased its position in shares of 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 buying an additional 1,414,105 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CSCO. Barclays boosted their target price on shares of Cisco Systems from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, November 13th. Argus upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Cisco Systems in a research note on Thursday, February 12th. Morgan Stanley lifted their target price on Cisco Systems from $82.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Finally, Bank of America increased their price target on Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.55.

Insider Activity

In other Cisco Systems news, insider Jeetendra I. Patel sold 11,248 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the completion of the sale, the insider directly owned 262,776 shares of the company’s stock, valued at approximately $19,970,976. The trade was a 4.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kristina M. Johnson sold 13,481 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $77.13, for a total value of $1,039,789.53. Following the completion of the sale, the director directly owned 61,630 shares of the company’s stock, valued at approximately $4,753,521.90. This trade represents a 17.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 75,677 shares of company stock valued at $5,811,211. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Down 0.6%

CSCO stock opened at $78.96 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $88.18. The stock’s 50 day simple moving average is $77.86 and its 200 day simple moving average is $73.91. The company has a market cap of $311.88 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 3.00 and a beta of 0.87.

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

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s payout ratio is 57.54%.

Cisco Systems 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.