Graves Light Private Wealth Management Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,585 shares of the network equipment provider’s stock after purchasing an additional 459 shares during the period. Graves Light Private Wealth Management Inc.’s holdings in Cisco Systems were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in CSCO. Cordasco Financial Network lifted its stake in Cisco Systems by 78.4% in the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after buying an additional 502 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in shares of Cisco Systems by 21.1% during the third quarter. Candriam Luxembourg S.C.A. now owns 1,483,927 shares of the network equipment provider’s stock valued at $75,000 after acquiring an additional 258,073 shares during the period. Larson Financial Group LLC grew its position in shares of Cisco Systems by 408.5% during the third quarter. Larson Financial Group LLC now owns 1,561 shares of the network equipment provider’s stock worth $77,000 after acquiring an additional 1,254 shares during the last quarter. Phocas Financial Corp. bought a new position in shares of Cisco Systems during the second quarter worth about $82,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Cisco Systems in the 2nd quarter worth about $89,000. 72.62% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Charles Robbins sold 12,597 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $44.81, for a total transaction of $564,471.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Irving Tan sold 10,733 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $44.81, for a total transaction of $480,945.73. Following the sale, the executive vice president now owns 172,199 shares of the company’s stock, valued at $7,716,237.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 388,864 shares of company stock worth $17,474,321. 0.03% of the stock is owned by company insiders.
Several analysts recently weighed in on the stock. Barclays upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective on the stock in a research report on Thursday, December 19th. UBS Group restated a “buy” rating and issued a $54.00 target price (down previously from $58.00) on shares of Cisco Systems in a research report on Thursday, November 14th. Zacks Investment Research upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $50.00 target price for the company in a research report on Wednesday, January 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, November 14th. Finally, Citigroup cut Cisco Systems from a “buy” rating to a “neutral” rating and cut their price target for the company from $56.00 to $52.00 in a report on Wednesday, January 8th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.69.
Shares of NASDAQ:CSCO opened at $48.80 on Wednesday. The company has a 50 day moving average of $46.91 and a 200-day moving average of $48.95. The firm has a market cap of $207.96 billion, a P/E ratio of 19.44, a P/E/G ratio of 2.85 and a beta of 1.23. Cisco Systems, Inc. has a twelve month low of $43.40 and a twelve month high of $58.26. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The business had revenue of $13.16 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter last year, the business earned $0.75 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 2.94 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, January 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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