Soros Fund Management LLC Buys New Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Soros Fund Management LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 31,800 shares of the network equipment provider’s stock, valued at approximately $1,075,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New England Asset Management Inc. grew its holdings in shares of Cisco Systems by 8.7% during the 1st quarter. New England Asset Management Inc. now owns 188,749 shares of the network equipment provider’s stock worth $6,379,000 after purchasing an additional 15,183 shares in the last quarter. Day & Ennis LLC grew its holdings in shares of Cisco Systems by 9.4% during the 1st quarter. Day & Ennis LLC now owns 7,556 shares of the network equipment provider’s stock worth $255,000 after purchasing an additional 647 shares in the last quarter. Highbridge Capital Management LLC grew its holdings in shares of Cisco Systems by 14.1% during the 1st quarter. Highbridge Capital Management LLC now owns 156,532 shares of the network equipment provider’s stock worth $5,292,000 after purchasing an additional 19,320 shares in the last quarter. Cypress Capital Group grew its holdings in shares of Cisco Systems by 29.3% during the 1st quarter. Cypress Capital Group now owns 54,765 shares of the network equipment provider’s stock worth $1,851,000 after purchasing an additional 12,411 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Cisco Systems by 57.5% during the 1st quarter. Signaturefd LLC now owns 67,161 shares of the network equipment provider’s stock worth $2,270,000 after purchasing an additional 24,507 shares in the last quarter. 74.70% of the stock is currently owned by institutional investors.

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Several analysts recently weighed in on the company. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the company a “hold” rating in a research note on Saturday, July 1st. Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $36.12 price objective on the stock. in a research note on Wednesday. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Saturday, July 1st. Credit Suisse Group reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Thursday, August 10th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research note on Monday, September 11th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $35.57.

In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now directly owns 729,305 shares in the company, valued at approximately $22,710,557.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 121,390 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $3,891,763.40. Following the sale, the chief executive officer now owns 552,694 shares in the company, valued at $17,719,369.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 420,138 shares of company stock worth $13,239,624. Company insiders own 0.11% of the company’s stock.

Cisco Systems, Inc. (NASDAQ CSCO) traded up 0.78% on Friday, reaching $32.44. The company’s stock had a trading volume of 29,336,087 shares. The stock has a market cap of $160.64 billion, a PE ratio of 17.07 and a beta of 1.19. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60. The company’s 50 day moving average price is $31.66 and its 200-day moving average price is $32.46.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. During the same period last year, the business posted $0.63 EPS. The company’s revenue was down 4.0% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 annualized dividend and a yield of 3.58%. Cisco Systems’s dividend payout ratio is 60.73%.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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