7,462 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Koss Olinger Consulting LLC

Key Points

• Koss Olinger Consulting LLC acquired 7,462 shares of Cisco Systems, Inc. (NASDAQ:CSCO), valued at approximately $460,000, during the first quarter of the year.
• Cisco reported a 12-month high of $72.02 and a quarterly revenue of $14.15 billion, exceeding analysts’ expectations of $14.05 billion.
• The company recently announced a $0.41 quarterly dividend, equating to an annualized yield of 2.3%, with a dividend payout ratio of 66.94%.

Koss Olinger Consulting LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,462 shares of the network equipment provider's stock, valued at approximately $460,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Navigoe LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth $26,000. JDM Financial Group LLC increased its position in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Fairway Wealth LLC boosted its stake in shares of Cisco Systems by 224.7% in the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after purchasing an additional 400 shares during the period. Finally, Accent Capital Management LLC purchased a new position in shares of Cisco Systems in the first quarter valued at $36,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling

In other news, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president owned 131,676 shares of the company's stock, valued at $8,365,376.28. The trade was a 10.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSCO. Evercore ISI restated an "in-line" rating and issued a $72.00 target price on shares of Cisco Systems in a research note on Monday, July 28th. Citigroup increased their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. KeyCorp initiated coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective on the stock. Finally, CICC Research initiated coverage on shares of Cisco Systems in a research note on Monday, July 14th. They set an "outperform" rating and a $78.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.55.

Cisco Systems Price Performance

Cisco Systems stock traded up $0.71 during trading hours on Tuesday, hitting $71.38. 21,677,845 shares of the company traded hands, compared to its average volume of 21,299,121. The firm has a market cap of $282.66 billion, a P/E ratio of 29.13, a P/E/G ratio of 3.98 and a beta of 0.91. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm's 50-day simple moving average is $67.63 and its two-hundred day simple moving average is $63.11. Cisco Systems, Inc. has a 1-year low of $44.89 and a 1-year high of $72.55.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.3%. Cisco Systems's payout ratio is currently 66.94%.

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.