Cushing Capital Partners LLC Acquires Shares of 16,260 Cisco Systems, Inc. (NASDAQ:CSCO)

Cushing Capital Partners LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 1st quarter, Holdings Channel reports. The fund bought 16,260 shares of the network equipment provider’s stock, valued at approximately $1,003,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Navigoe LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Rosenblatt Securities lifted their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $73.00 in a report on Monday. Finally, Citigroup boosted their price target on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.11.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $65.33 on Wednesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market cap of $258.71 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 3.95 and a beta of 0.88. The firm has a 50 day simple moving average of $60.86 and a 200 day simple moving average of $60.66.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results 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 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Insider Transactions at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president now directly owns 131,676 shares in the company, valued at $8,365,376.28. This trade represents a 10.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the transaction, the senior vice president now owns 36,937 shares of the company’s stock, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,931 shares of company stock worth $4,671,930. 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.