Arbor Trust Wealth Advisors LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 37.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,883 shares of the network equipment provider's stock after buying an additional 4,300 shares during the quarter. Arbor Trust Wealth Advisors LLC's holdings in Cisco Systems were worth $677,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Cordant Inc. acquired a new position in shares of Cisco Systems during the 1st quarter worth approximately $28,000. Advanced Research Investment Solutions LLC raised its stake in Cisco Systems by 564.6% in the 1st quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider's stock valued at $30,000 after purchasing an additional 463 shares during the last quarter. Conrad Siegel Investment Advisors Inc. acquired a new position in Cisco Systems in the 1st quarter valued at $33,000. PYA Waltman Capital LLC raised its stake in Cisco Systems by 445.4% in the 1st quarter. PYA Waltman Capital LLC now owns 769 shares of the network equipment provider's stock valued at $43,000 after purchasing an additional 628 shares during the last quarter. Finally, Evolution Advisers Inc. raised its stake in Cisco Systems by 48.2% in the 1st quarter. Evolution Advisers Inc. now owns 781 shares of the network equipment provider's stock valued at $43,000 after purchasing an additional 254 shares during the last quarter. 71.71% of the stock is owned by institutional investors and hedge funds.Get Cisco Systems alerts:
Cisco Systems Stock Performance
NASDAQ CSCO opened at $40.66 on Friday. The stock has a market cap of $167.07 billion, a PE ratio of 14.42, a P/E/G ratio of 1.90 and a beta of 0.96. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a twelve month low of $40.12 and a twelve month high of $64.29. The stock has a fifty day simple moving average of $45.06 and a 200-day simple moving average of $47.43.Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The company had revenue of $13.10 billion during the quarter, compared to analysts' expectations of $12.78 billion. During the same period last year, the business posted $0.76 EPS. Cisco Systems's revenue for the quarter was down .2% on a year-over-year basis. Equities analysts anticipate that Cisco Systems, Inc. will post 3.1 earnings per share for the current year.
Cisco Systems Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems's dividend payout ratio (DPR) is 53.90%.
Wall Street Analyst Weigh In
Several research firms recently commented on CSCO. TheStreet downgraded Cisco Systems from a "b" rating to a "c+" rating in a research note on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $51.00 to $54.00 in a research note on Friday, August 19th. KGI Securities raised Cisco Systems from a "neutral" rating to an "outperform" rating in a research note on Wednesday, August 31st. Cowen upped their target price on Cisco Systems from $58.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, August 18th. Finally, Evercore ISI upped their target price on Cisco Systems from $50.00 to $56.00 and gave the company an "outperform" rating in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Cisco Systems presently has an average rating of "Hold" and a consensus price target of $54.10.
Insider Activity at Cisco Systems
In related news, SVP Prat Bhatt sold 19,168 shares of the firm's stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $848,759.04. Following the completion of the transaction, the senior vice president now directly owns 38,158 shares in the company, valued at approximately $1,689,636.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cisco Systems news, COO Maria Martinez sold 2,831 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $48.39, for a total value of $136,992.09. Following the sale, the chief operating officer now owns 278,012 shares of the company's stock, valued at approximately $13,453,000.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prat Bhatt sold 19,168 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total value of $848,759.04. Following the completion of the sale, the senior vice president now directly owns 38,158 shares in the company, valued at approximately $1,689,636.24. The disclosure for this sale can be found here. Insiders sold 56,317 shares of company stock worth $2,612,042 in the last three months. 0.02% of the stock is owned by company insiders.
About Cisco Systems
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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