Chevy Chase Trust Holdings LLC Acquires 13,726 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Chevy Chase Trust Holdings LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,333,566 shares of the network equipment provider’s stock after acquiring an additional 13,726 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Cisco Systems were worth $124,192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Securities Group LLC bought a new position in Cisco Systems in the second quarter worth about $25,000. Quarry LP lifted its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the second quarter worth $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems during the third quarter worth $40,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSCO has been the topic of several research analyst reports. Tigress Financial boosted their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company boosted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Bank of America raised their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 339,479 shares of company stock valued at $19,490,991. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Down 0.1 %

Shares of CSCO stock opened at $59.21 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.87. The stock has a 50 day moving average of $55.83 and a 200 day moving average of $50.54. The stock has a market cap of $235.82 billion, a P/E ratio of 25.41, a P/E/G ratio of 4.41 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. Cisco Systems’s dividend payout ratio is presently 68.67%.

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.