626 Financial LLC Purchases New Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

626 Financial LLC acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,076 shares of the network equipment provider’s stock, valued at approximately $217,000.

Other institutional investors have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after buying an additional 288,775 shares during the last quarter. Marcum Wealth LLC raised its position in Cisco Systems by 4.0% in the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after acquiring an additional 943 shares during the period. Citizens Financial Group Inc. RI raised its position in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after acquiring an additional 51,924 shares during the period. Inscription Capital LLC boosted its stake in Cisco Systems by 49.4% in the first quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after acquiring an additional 15,198 shares during the last quarter. Finally, Valmark Advisers Inc. grew its position in shares of Cisco Systems by 4.7% during the 2nd quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after acquiring an additional 1,820 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $54.08 on Wednesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $54.61. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $217.88 billion, a P/E ratio of 18.21, a PEG ratio of 4.22 and a beta of 0.83. The business’s 50-day moving average price is $50.51 and its two-hundred day moving average price is $48.45.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the business posted $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. Cisco Systems’s payout ratio is 53.87%.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last 90 days. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CSCO. Tigress Financial lifted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Rosenblatt Securities lifted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and an average price target of $56.21.

Cisco Systems Company Profile

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.