BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 171,411 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,528,916 shares of the network equipment provider’s stock after purchasing an additional 171,411 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.09% of Cisco Systems worth $176,128,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CSCO. Norges Bank purchased a new stake in Cisco Systems in the fourth quarter worth about $2,528,939,000. Charles Schwab Investment Management Inc. lifted its position in shares of Cisco Systems by 9.5% during 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 buying an additional 6,345,954 shares during the last quarter. FIL Ltd lifted its position 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 valued at $955,961,000 after buying an additional 6,054,748 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cisco Systems by 29.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock valued at $895,576,000 after buying an additional 3,989,543 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Cisco Systems by 25.0% during the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after buying an additional 3,753,165 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

CSCO stock traded up $1.10 during midday trading on Wednesday, reaching $48.52. The stock had a trading volume of 26,635,898 shares, compared to its average volume of 19,604,998. The company’s fifty day simple moving average is $46.91 and its 200 day simple moving average is $48.51. 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 company has a market cap of $195.48 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares in the company, valued at $8,717,209.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock valued at $1,908,923 in the last three months. 0.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on CSCO shares. Oppenheimer increased their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. Piper Sandler reissued a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research report on Wednesday, June 5th. Citigroup initiated coverage on shares of Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective for the company. Finally, Morgan Stanley initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average price target of $56.47.

About Cisco Systems

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.