Foundry Partners LLC Acquires New Stake in Cisco Systems, Inc. (CSCO)

Foundry Partners LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 398,070 shares of the network equipment provider’s stock, valued at approximately $12,460,000.

Other institutional investors have also bought and sold shares of the company. Barnett & Company Inc. increased its stake in Cisco Systems by 1,511.5% during the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares during the period. Grove Bank & Trust grew its stake in shares of Cisco Systems by 141.3% in the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 2,120 shares during the last quarter. Watermark Asset Management Inc. acquired a new position in shares of Cisco Systems in the 1st quarter worth approximately $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in shares of Cisco Systems by 15.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after purchasing an additional 560 shares during the last quarter. Finally, Baystate Wealth Management LLC grew its stake in shares of Cisco Systems by 24.5% in the 1st quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after purchasing an additional 1,484 shares during the last quarter. Institutional investors own 75.22% of the company’s stock.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $33.95 on Tuesday. Cisco Systems, Inc. has a twelve month low of $29.12 and a twelve month high of $34.75. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $168,311.06, a price-to-earnings ratio of 15.66, a PEG ratio of 2.97 and a beta of 1.15.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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 firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. sell-side analysts expect that Cisco Systems, Inc. will post 2.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s payout ratio is 60.73%.

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In other news, CEO Charles Robbins sold 121,390 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the sale, the chief executive officer now directly owns 552,694 shares of the company’s stock, valued at approximately $17,719,369.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 485,138 shares of company stock worth $15,347,574. 0.05% of the stock is owned by insiders.

Several research analysts have recently weighed in on CSCO shares. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 target price on the stock in a research report on Monday, July 17th. Stifel Nicolaus set a $34.00 target price on shares of Cisco Systems and gave the company a “hold” rating in a research note on Tuesday, August 15th. BMO Capital Markets reissued a “hold” rating and issued a $32.00 price target on shares of Cisco Systems in a research report on Thursday, September 28th. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and a consensus target price of $35.31.

Cisco Systems Company Profile

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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