McNamara Financial Services Inc. Invests $216,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

McNamara Financial Services Inc. bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,500 shares of the network equipment provider’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CSCO. Procyon Advisors LLC raised its position in shares of Cisco Systems by 29.0% during the first quarter. Procyon Advisors LLC now owns 120,632 shares of the network equipment provider’s stock worth $7,308,000 after purchasing an additional 27,104 shares during the period. Next Level Private LLC increased its stake in Cisco Systems by 9.0% in the 1st quarter. Next Level Private LLC now owns 6,060 shares of the network equipment provider’s stock worth $374,000 after purchasing an additional 500 shares in the last quarter. Consilio Wealth Advisors LLC raised its holdings in Cisco Systems by 7.4% during the 1st quarter. Consilio Wealth Advisors LLC now owns 3,835 shares of the network equipment provider’s stock worth $237,000 after buying an additional 264 shares during the period. Hudson Capital Management LLC lifted its stake in Cisco Systems by 1.2% during the first quarter. Hudson Capital Management LLC now owns 84,884 shares of the network equipment provider’s stock valued at $5,238,000 after buying an additional 1,028 shares in the last quarter. Finally, Generali Investments Management Co LLC boosted its holdings in shares of Cisco Systems by 5.1% in the first quarter. Generali Investments Management Co LLC now owns 46,770 shares of the network equipment provider’s stock worth $2,886,000 after buying an additional 2,263 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CSCO shares. The Goldman Sachs Group upped their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Rosenblatt Securities increased their target price on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. New Street Research reiterated a “neutral” rating and set a $70.00 price target on shares of Cisco Systems in a report on Friday, May 16th. Evercore ISI upped their target price on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Finally, UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $64.62 on Friday. The business’s 50 day moving average is $59.52 and its two-hundred day moving average is $60.27. The company has a market cap of $255.90 billion, a P/E ratio of 28.22, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.54%. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Cisco Systems announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares of the company’s stock, valued at $2,693,013.45. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,616 shares of company stock worth $2,640,095 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

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.