Turtle Creek Wealth Advisors LLC Has $290,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Turtle Creek Wealth Advisors LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,454 shares of the network equipment provider’s stock after purchasing an additional 768 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Cisco Systems were worth $290,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CSCO. Evergreen Wealth Management LLC raised its holdings in shares of Cisco Systems by 40.3% in the 3rd quarter. Evergreen Wealth Management LLC now owns 41,228 shares of the network equipment provider’s stock valued at $2,194,000 after purchasing an additional 11,848 shares during the period. RIA Advisory Group LLC acquired a new position in shares of Cisco Systems in the third quarter valued at $835,000. Natixis Advisors LLC raised its position in shares of Cisco Systems by 9.9% in the third quarter. Natixis Advisors LLC now owns 2,652,863 shares of the network equipment provider’s stock valued at $141,186,000 after purchasing an additional 238,210 shares during the period. Seelaus Asset Management LLC lifted its stake in shares of Cisco Systems by 10.7% during the 3rd quarter. Seelaus Asset Management LLC now owns 11,247 shares of the network equipment provider’s stock worth $599,000 after buying an additional 1,086 shares during the last quarter. Finally, Northcape Wealth Management LLC boosted its holdings in shares of Cisco Systems by 1.6% during the 3rd quarter. Northcape Wealth Management LLC now owns 59,365 shares of the network equipment provider’s stock worth $3,159,000 after buying an additional 963 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Jefferies Financial Group lowered their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.42.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.46 during mid-day trading on Friday, reaching $57.46. The company had a trading volume of 28,173,705 shares, compared to its average volume of 19,144,939. The business has a fifty day simple moving average of $54.18 and a 200 day simple moving average of $49.76. The company has a market cap of $229.31 billion, a P/E ratio of 24.66, a P/E/G ratio of 4.90 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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 return on equity of 25.62% and a net margin of 17.73%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,924 shares of company stock valued at $1,798,131 over the last 90 days. 0.01% of the stock is owned by insiders.

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.