Cisco Systems, Inc. (NASDAQ:CSCO) is Ameriprise Financial Inc.’s 10th Largest Position

Ameriprise Financial Inc. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,200,259 shares of the network equipment provider’s stock after purchasing an additional 1,954,396 shares during the quarter. Cisco Systems accounts for approximately 0.8% of Ameriprise Financial Inc.’s holdings, making the stock its 10th biggest position. Ameriprise Financial Inc. owned about 1.20% of Cisco Systems worth $2,572,144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSCO. Steward Financial Group LLC purchased a new stake in shares of Cisco Systems in the 4th quarter worth $26,000. Altshuler Shaham Ltd purchased a new stake in Cisco Systems in the first quarter worth about $32,000. Carmel Capital Partners LLC purchased a new position in shares of Cisco Systems during the 1st quarter valued at about $35,000. Tucker Asset Management LLC bought a new position in shares of Cisco Systems during the 1st quarter valued at approximately $35,000. Finally, Fortis Capital Advisors LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Cisco Systems Trading Down 0.8 %

Shares of CSCO stock opened at $56.39 on Wednesday. The company has a market cap of $229.79 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27. The stock’s 50 day simple moving average is $53.90 and its two-hundred day simple moving average is $51.01. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.08. The company had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.05 billion. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. Cisco Systems’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. Research analysts predict that Cisco Systems, Inc. will post 3.58 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.56 annualized dividend and a yield of 2.77%. Cisco Systems’s payout ratio is 50.81%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CSCO shares. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Jefferies Financial Group upped their target price on shares of Cisco Systems from $54.00 to $59.50 and gave the stock a “buy” rating in a report on Thursday, August 17th. Oppenheimer restated an “outperform” rating and issued a $58.00 price objective on shares of Cisco Systems in a research report on Thursday, August 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, August 21st. Finally, StockNews.com began coverage on Cisco Systems in a research note on Thursday, August 17th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and an average target price of $59.23.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 17,687 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $55.16, for a total transaction of $975,614.92. Following the completion of the transaction, the chief executive officer now owns 716,191 shares in the company, valued at $39,505,095.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Charles Robbins sold 17,687 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $55.16, for a total transaction of $975,614.92. Following the completion of the sale, the chief executive officer now directly owns 716,191 shares of the company’s stock, valued at approximately $39,505,095.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 6,186 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $54.65, for a total value of $338,064.90. Following the completion of the transaction, the senior vice president now directly owns 64,493 shares in the company, valued at approximately $3,524,542.45. The disclosure for this sale can be found here. Insiders have sold 51,210 shares of company stock valued at $2,767,284 in the last ninety days. 0.02% of the stock is owned by company insiders.

About Cisco Systems

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.