Praxis Investment Management Inc. Has $6.12 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Praxis Investment Management Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 99,100 shares of the network equipment provider’s stock after purchasing an additional 1,050 shares during the period. Praxis Investment Management Inc.’s holdings in Cisco Systems were worth $6,115,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CSCO. Norges Bank acquired a new position in Cisco Systems during the fourth quarter worth $3,297,905,000. FMR LLC boosted its position in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Raymond James Financial Inc. bought a new position in Cisco Systems during the fourth quarter worth $560,722,000. Alyeska Investment Group L.P. bought a new position in Cisco Systems during the fourth quarter worth $413,491,000. Finally, GAMMA Investing LLC boosted its position in Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after purchasing an additional 6,625,045 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Up 0.7%

CSCO opened at $66.32 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.65. The company has a 50-day simple moving average of $61.38 and a 200 day simple moving average of $60.78. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $262.63 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 3.94 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.47%. Cisco Systems’s dividend payout ratio is 66.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CSCO shares. Citigroup lifted their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. lifted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. New Street Research reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.11.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer now owns 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 over the last quarter. 0.01% of the stock is owned by company insiders.

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.