Aspetuck Financial Management LLC Purchases Shares of 9,932 Cisco Systems, Inc. (NASDAQ:CSCO)

Aspetuck Financial Management LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,932 shares of the network equipment provider's stock, valued at approximately $613,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Navigoe LLC purchased a new stake in Cisco Systems in the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at $26,000. JDM Financial Group LLC increased its position in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares during the period. Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems during the 4th quarter valued at about $30,000. Finally, Campbell Capital Management Inc. purchased a new position in Cisco Systems during the fourth quarter valued at approximately $31,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president now owns 174,669 shares in the company, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 29,784 shares of Cisco Systems stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the transaction, the chief executive officer now owns 688,409 shares of the company's stock, valued at $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock valued at $6,271,054 in the last three months. 0.01% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CSCO has been the topic of several analyst reports. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the company from $65.00 to $73.00 in a report on Monday, June 16th. Finally, Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Trading Down 0.4%

NASDAQ:CSCO traded down $0.30 on Friday, reaching $68.65. The company's stock had a trading volume of 26,213,514 shares, compared to its average volume of 20,235,237. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.22. 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 has a market cap of $271.85 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 4.10 and a beta of 0.88. The stock has a 50 day moving average price of $62.57 and a 200 day moving average price of $61.10.

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

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 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.