CCM Investment Advisers LLC Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

CCM Investment Advisers LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% in the 2nd quarter, Holdings Channel reports. The fund owned 288,291 shares of the network equipment provider’s stock after buying an additional 14,873 shares during the period. CCM Investment Advisers LLC’s holdings in Cisco Systems were worth $13,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Cisco Systems in the 4th quarter valued at $2,528,939,000. Swedbank AB purchased a new position in Cisco Systems during the first quarter valued at $840,538,000. Charles Schwab Investment Management Inc. grew its position in shares of Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after purchasing an additional 6,345,954 shares during the period. FIL Ltd increased its stake in shares of Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after purchasing an additional 6,054,748 shares in the last quarter. Finally, Natixis raised its position in shares of Cisco Systems by 438.4% during the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after purchasing an additional 4,010,228 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. In the last three months, insiders sold 41,106 shares of company stock worth $1,908,923. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a report on Monday, May 13th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Oppenheimer boosted their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Finally, StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and an average target price of $56.47.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded down $0.36 during midday trading on Friday, reaching $45.47. 21,216,655 shares of the company were exchanged, compared to its average volume of 19,636,689. Cisco Systems, Inc. has a 1 year low of $44.64 and a 1 year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $46.73 and a 200 day simple moving average of $48.13. The stock has a market cap of $183.19 billion, a P/E ratio of 15.36, a PEG ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the firm posted $0.88 EPS. Cisco Systems’s quarterly revenue was down 12.8% on a year-over-year basis. On average, research analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.52%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

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.