Palisade Asset Management LLC Has $19.68 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Palisade Asset Management LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,840 shares of the network equipment provider’s stock after acquiring an additional 679 shares during the quarter. Cisco Systems comprises approximately 1.9% of Palisade Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Palisade Asset Management LLC’s holdings in Cisco Systems were worth $19,683,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CSCO. Charles Schwab Investment Management Inc. lifted its stake in shares of Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after acquiring an additional 1,677,383 shares during the period. Bank of New York Mellon Corp lifted its position in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares during the period. Legal & General Group Plc boosted its stake in shares of Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after purchasing an additional 1,530,468 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the period. Finally, Swedbank AB bought a new stake in shares of Cisco Systems during the first quarter worth approximately $840,538,000. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, 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. Over the last quarter, insiders have sold 342,858 shares of company stock worth $19,661,157. Corporate insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Evercore ISI lifted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Stock Up 1.7 %

NASDAQ:CSCO opened at $58.55 on Friday. The company has a market cap of $233.19 billion, a PE ratio of 25.13, a PEG ratio of 4.28 and a beta of 0.83. The stock has a 50-day simple moving average of $55.02 and a 200 day simple moving average of $50.13. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the company earned $0.98 earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Cisco Systems Company 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.