Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 12.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,998 shares of the network equipment provider's stock after purchasing an additional 4,450 shares during the period. Mitchell Mcleod Pugh & Williams Inc.'s holdings in Cisco Systems were worth $1,560,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in CSCO. Syverson Strege & Co grew its holdings in shares of Cisco Systems by 68.9% in the second quarter. Syverson Strege & Co now owns 591 shares of the network equipment provider's stock valued at $25,000 after purchasing an additional 241 shares in the last quarter. Iron Horse Wealth Management LLC boosted its holdings in Cisco Systems by 328.1% in the second quarter. Iron Horse Wealth Management LLC now owns 655 shares of the network equipment provider's stock valued at $28,000 after purchasing an additional 502 shares during the period. Steward Financial Group LLC grew its stake in Cisco Systems by 49.5% during the 2nd quarter. Steward Financial Group LLC now owns 788 shares of the network equipment provider's stock worth $33,000 after purchasing an additional 261 shares in the last quarter. Moisand Fitzgerald Tamayo LLC raised its position in Cisco Systems by 161.3% in the 2nd quarter. Moisand Fitzgerald Tamayo LLC now owns 810 shares of the network equipment provider's stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its stake in shares of Cisco Systems by 164.0% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 813 shares of the network equipment provider's stock valued at $35,000 after buying an additional 505 shares during the period. Hedge funds and other institutional investors own 71.10% of the company's stock.
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Cisco Systems Trading Up 0.3 %
CSCO traded up $0.15 during midday trading on Thursday, reaching $48.13. 3,910,242 shares of the company were exchanged, compared to its average volume of 15,813,256. The stock's 50-day simple moving average is $48.14 and its 200 day simple moving average is $45.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.34 and a current ratio of 1.45. The stock has a market capitalization of $197.76 billion, a P/E ratio of 17.32, a PEG ratio of 2.33 and a beta of 0.99. Cisco Systems, Inc. has a one year low of $38.60 and a one year high of $57.69.
Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.04. Cisco Systems had a net
margin of 22.00% and a return on equity of 31.68%. The company had revenue of $13.63 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the prior year, the business posted $0.73 EPS. The company's quarterly revenue was up 5.7% on a year-over-year basis. As a group, analysts forecast that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 25th. Shareholders of record on Thursday, January 5th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Wednesday, January 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.16%. Cisco Systems's payout ratio is presently 54.87%.
Insider Transactions at Cisco Systems
In other news, EVP Jeffery S. Sharritts sold 14,830 shares of Cisco Systems stock in a transaction on Monday, November 21st. The stock was sold at an average price of $47.80, for a total value of $708,874.00. Following the transaction, the executive vice president now owns 277,751 shares in the company, valued at approximately $13,276,497.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Cisco Systems news, COO Maria Martinez sold 3,201 shares of the firm's stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $47.81, for a total transaction of $153,039.81. Following the completion of the transaction, the chief operating officer now owns 452,254 shares in the company, valued at approximately $21,622,263.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffery S. Sharritts sold 14,830 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $47.80, for a total transaction of $708,874.00. Following the sale, the executive vice president now owns 277,751 shares of the company's stock, valued at $13,276,497.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,098 shares of company stock valued at $11,939,277. 0.02% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Rosenblatt Securities dropped their price objective on Cisco Systems from $53.00 to $51.00 and set a "neutral" rating on the stock in a report on Thursday, November 17th. Credit Suisse Group boosted their price objective on shares of Cisco Systems from $65.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, November 17th. Bank of America reiterated a "buy" rating and set a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, November 16th. Morgan Stanley raised their price objective on Cisco Systems from $48.00 to $52.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Cisco Systems from $54.00 to $52.00 and set a "hold" rating for the company in a report on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $53.95.
Cisco Systems Profile
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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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