Jag Capital Management LLC Has $3.97 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Jag Capital Management LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% during the third quarter, Holdings Channel.com reports. The firm owned 74,668 shares of the network equipment provider’s stock after acquiring an additional 2,364 shares during the quarter. Jag Capital Management LLC’s holdings in Cisco Systems were worth $3,974,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after buying an additional 1,853,598 shares in the last quarter. Legal & General Group Plc increased its position in shares of Cisco Systems by 3.3% in the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares in the last quarter. Swedbank AB acquired a new position in Cisco Systems during the first quarter valued at approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after purchasing an additional 2,906,357 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSCO shares. Rosenblatt Securities increased their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Tigress Financial lifted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Jefferies Financial Group dropped their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $57.32.

Cisco Systems Stock Up 1.5 %

CSCO opened at $58.95 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a fifty day moving average of $53.30 and a 200-day moving average of $49.42. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $58.95. The company has a market capitalization of $235.25 billion, a P/E ratio of 22.86, a P/E/G ratio of 4.79 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.71%. Cisco Systems’s dividend payout ratio is presently 62.99%.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by company insiders.

Cisco Systems 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.