Bright Financial Advisors Inc. Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Bright Financial Advisors Inc. has made a new investment in Cisco Systems, Inc., purchasing 3,682 shares valued at approximately $227,000.
• Several institutional investors, including Navigoe LLC and Fairway Wealth LLC, have recently adjusted their stakes in Cisco, highlighting ongoing interest in the stock.
• Multiple analysts have upgraded their ratings on Cisco, forecasting potential growth, with price targets now ranging from $70.55 to $78.00.

Bright Financial Advisors Inc. purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,682 shares of the network equipment provider's stock, valued at approximately $227,000.

Several other institutional investors also recently modified their holdings of the stock. Navigoe LLC acquired a new stake in Cisco Systems during the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC lifted its position in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Pandora Wealth Inc. bought a new position in Cisco Systems in the 1st quarter valued at about $31,000. Finally, Fairway Wealth LLC lifted its position in Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after acquiring an additional 400 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CSCO shares. Wells Fargo & Company raised shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Wall Street Zen cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Evercore ISI reissued an "in-line" rating and set a $72.00 target price on shares of Cisco Systems in a research report on Monday, July 28th. Finally, Citigroup raised their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $70.55.

Insiders Place Their Bets

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 shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president owned 174,669 shares in the company, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the sale, the senior vice president owned 36,937 shares in the company, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

CSCO stock opened at $71.38 on Wednesday. The firm's 50-day moving average price is $67.77 and its two-hundred day moving average price is $63.16. Cisco Systems, Inc. has a 12-month low of $44.89 and a 12-month high of $72.55. The stock has a market capitalization of $282.66 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 3.92 and a beta of 0.91. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Company 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.

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