Palisade Asset Management LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 417,548 shares of the network equipment provider’s stock after purchasing an additional 48,570 shares during the quarter. Cisco Systems makes up about 2.6% of Palisade Asset Management LLC’s holdings, making the stock its 8th biggest position. Palisade Asset Management LLC’s holdings in Cisco Systems were worth $13,069,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its stake in Cisco Systems by 0.7% in the first quarter. Fisher Asset Management LLC now owns 15,693,906 shares of the network equipment provider’s stock valued at $530,454,000 after acquiring an additional 108,056 shares during the last quarter. Profund Advisors LLC boosted its stake in Cisco Systems by 4.5% in the first quarter. Profund Advisors LLC now owns 407,724 shares of the network equipment provider’s stock valued at $13,781,000 after acquiring an additional 17,492 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Cisco Systems by 469.6% in the first quarter. Acadian Asset Management LLC now owns 929,317 shares of the network equipment provider’s stock valued at $31,412,000 after acquiring an additional 766,169 shares during the last quarter. Robshaw & Julian Associates Inc. boosted its stake in Cisco Systems by 8.7% in the first quarter. Robshaw & Julian Associates Inc. now owns 82,990 shares of the network equipment provider’s stock valued at $2,805,000 after acquiring an additional 6,650 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its stake in Cisco Systems by 44.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 50,700 shares of the network equipment provider’s stock valued at $1,714,000 after acquiring an additional 15,519 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

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A number of research firms have weighed in on CSCO. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, October 24th. Berenberg Bank reiterated a “hold” rating and issued a $33.00 target price on shares of Cisco Systems in a research note on Tuesday, October 24th. BMO Capital Markets reiterated a “hold” rating and issued a $32.00 target price on shares of Cisco Systems in a research note on Monday, October 23rd. Finally, Zacks Investment Research cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $35.30.

In other news, SVP Karen Walker sold 23,110 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the completion of the sale, the senior vice president now directly owns 192,774 shares of the company’s stock, valued at $6,180,334.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were 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 of the company’s stock, valued at $22,710,557.70. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock valued at $15,347,574 over the last ninety days. 0.05% of the stock is owned by insiders.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. The company had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. Cisco Systems’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.40%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s payout ratio is 60.73%.

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).

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

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