Park Avenue Securities LLC Has $11.09 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Park Avenue Securities LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 25.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,351 shares of the network equipment provider’s stock after purchasing an additional 38,509 shares during the period. Park Avenue Securities LLC’s holdings in Cisco Systems were worth $11,091,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after purchasing an additional 288,775 shares during the period. Morse Asset Management Inc bought a new stake in Cisco Systems in the third quarter valued at about $798,000. HighVista Strategies LLC acquired a new position in Cisco Systems in the third quarter worth about $1,698,000. GAMMA Investing LLC lifted its stake in Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in Cisco Systems by 10.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In related news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now owns 50,767 shares in the company, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 in the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Up 1.0 %

Shares of NASDAQ:CSCO opened at $59.33 on Wednesday. The company has a 50 day moving average of $58.79 and a 200-day moving average of $53.34. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The stock has a market cap of $236.30 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 4.37 and a beta of 0.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. Cisco Systems’s payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSCO. Wells Fargo & Company raised their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Morgan Stanley increased their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Tigress Financial boosted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.28.

Cisco Systems 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.