Voya Financial Advisors Inc. Increases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Voya Financial Advisors Inc. increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,876 shares of the network equipment provider’s stock after buying an additional 783 shares during the quarter. Voya Financial Advisors Inc.’s holdings in Cisco Systems were worth $418,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC acquired a new position in shares of Cisco Systems during the second quarter worth about $25,000. West Financial Advisors LLC increased its position in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the period. Quarry LP raised its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Cisco Systems in the third quarter valued at approximately $40,000. Finally, Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the second quarter worth $36,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.2 %

CSCO opened at $59.89 on Friday. The stock’s fifty day moving average is $56.40 and its 200-day moving average is $50.82. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The company has a market capitalization of $238.53 billion, a PE ratio of 25.70, a P/E/G ratio of 4.43 and a beta of 0.85. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the previous year, the firm posted $0.98 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. On average, equities analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CSCO. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities upped their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Wells Fargo & Company raised their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 351,860 shares of company stock worth $20,231,558. 0.01% of the stock is owned by company 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.