Avantax Planning Partners Inc. Buys 22,704 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Avantax Planning Partners Inc. boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 66.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,039 shares of the network equipment provider’s stock after purchasing an additional 22,704 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Cisco Systems were worth $3,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beaumont Financial Partners LLC grew its holdings in Cisco Systems by 24.7% in the first quarter. Beaumont Financial Partners LLC now owns 10,560 shares of the network equipment provider’s stock valued at $589,000 after purchasing an additional 2,089 shares during the period. Cypress Capital LLC boosted its stake in Cisco Systems by 1.9% during the first quarter. Cypress Capital LLC now owns 237,650 shares of the network equipment provider’s stock worth $13,251,000 after buying an additional 4,346 shares during the last quarter. PYA Waltman Capital LLC raised its position in Cisco Systems by 445.4% in the first quarter. PYA Waltman Capital LLC now owns 769 shares of the network equipment provider’s stock valued at $43,000 after purchasing an additional 628 shares during the period. Teacher Retirement System of Texas raised its position in Cisco Systems by 6.2% in the first quarter. Teacher Retirement System of Texas now owns 1,818,503 shares of the network equipment provider’s stock valued at $101,400,000 after purchasing an additional 106,327 shares during the period. Finally, Meitav Dash Investments Ltd. lifted its stake in Cisco Systems by 97.5% during the 1st quarter. Meitav Dash Investments Ltd. now owns 32,329 shares of the network equipment provider’s stock worth $1,803,000 after acquiring an additional 15,958 shares in the last quarter. 73.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CSCO shares. Rosenblatt Securities started coverage on Cisco Systems in a report on Tuesday, July 12th. They issued a “neutral” rating and a $48.00 price objective on the stock. Citigroup dropped their price target on Cisco Systems from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, May 19th. UBS Group lowered their price objective on Cisco Systems from $59.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. Barclays reduced their price objective on Cisco Systems from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, May 19th. Finally, Credit Suisse Group cut their price target on Cisco Systems from $72.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, May 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $54.23.

Cisco Systems Stock Down 0.8 %

NASDAQ:CSCO traded down $0.37 during trading hours on Friday, reaching $45.01. The company had a trading volume of 19,533,918 shares, compared to its average volume of 16,972,012. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. The firm has a market cap of $186.38 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 2.23 and a beta of 0.97. The business’s 50-day simple moving average is $43.96 and its two-hundred day simple moving average is $49.96. Cisco Systems, Inc. has a twelve month low of $40.82 and a twelve month high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $13.33 billion. During the same period last year, the company posted $0.75 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 3 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Tuesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.33%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Prat Bhatt sold 3,700 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $43.34, for a total value of $160,358.00. Following the transaction, the senior vice president now directly owns 80,784 shares of the company’s stock, valued at $3,501,178.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Prat Bhatt sold 3,700 shares of the firm’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $43.34, for a total transaction of $160,358.00. Following the transaction, the senior vice president now directly owns 80,784 shares of the company’s stock, valued at $3,501,178.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $43.79, for a total transaction of $556,877.43. Following the transaction, the chief executive officer now directly owns 651,577 shares in the company, valued at $28,532,556.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,326 shares of company stock valued at $1,103,159. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Profile

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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