Legacy Capital Group California Inc. Has $1.13 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Legacy Capital Group California Inc. boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,260 shares of the network equipment provider’s stock after buying an additional 1,081 shares during the period. Legacy Capital Group California Inc.’s holdings in Cisco Systems were worth $1,131,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Brookstone Capital Management raised its position in shares of Cisco Systems by 9.4% in the first quarter. Brookstone Capital Management now owns 55,083 shares of the network equipment provider’s stock valued at $2,749,000 after purchasing an additional 4,712 shares during the period. Wealthcare Advisory Partners LLC raised its position in Cisco Systems by 28.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 53,871 shares of the network equipment provider’s stock valued at $2,689,000 after purchasing an additional 12,072 shares in the last quarter. Sawyer & Company Inc lifted its stake in Cisco Systems by 4.6% during the first quarter. Sawyer & Company Inc now owns 47,696 shares of the network equipment provider’s stock worth $2,381,000 after purchasing an additional 2,115 shares during the last quarter. Norway Savings Bank boosted its holdings in shares of Cisco Systems by 15.3% in the 1st quarter. Norway Savings Bank now owns 9,295 shares of the network equipment provider’s stock valued at $464,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted its position in shares of Cisco Systems by 3.4% during the 1st quarter. Financial Management Professionals Inc. now owns 9,025 shares of the network equipment provider’s stock worth $450,000 after buying an additional 293 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Tigress Financial boosted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. Finally, New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.74.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $55.96 on Friday. The stock has a 50 day moving average price of $51.85 and a two-hundred day moving average price of $48.77. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06. The company has a market capitalization of $225.45 billion, a P/E ratio of 18.84, a PEG ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.86%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by corporate insiders.

Cisco Systems 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.