Brucke Financial Inc. Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Brucke Financial Inc. significantly increased its stake in Cisco Systems by 96.3%, acquiring an additional 4,769 shares, bringing its total to 9,721 shares valued at approximately $561,000.
• Cisco reported $0.96 EPS for the quarter, exceeding analysts' expectations of $0.92 EPS, with revenue of $14.15 billion, an increase of 11.4% year-over-year.
• The company announced a quarterly dividend of $0.41 per share, yielding 2.41%, with a current dividend payout ratio of 66.94%.

Brucke Financial Inc. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 96.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,721 shares of the network equipment provider's stock after purchasing an additional 4,769 shares during the quarter. Brucke Financial Inc.'s holdings in Cisco Systems were worth $561,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Navigoe LLC bought a new position in shares of Cisco Systems in the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems in the fourth quarter worth $26,000. JDM Financial Group LLC grew its position in Cisco Systems by 160.4% in the fourth 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 during the last quarter. Fairway Wealth LLC boosted its stake in shares of 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 purchasing an additional 400 shares in the last quarter. Finally, Investment Management Corp VA ADV boosted its stake in shares of Cisco Systems by 145.3% in the 1st quarter. Investment Management Corp VA ADV now owns 596 shares of the network equipment provider's stock valued at $37,000 after purchasing an additional 353 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded down $0.97 during mid-day trading on Friday, reaching $67.11. 21,648,306 shares of the company's stock were exchanged, compared to its average volume of 21,221,861. The firm has a market capitalization of $265.76 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 4.08 and a beta of 0.90. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $69.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The firm has a 50-day moving average price of $66.79 and a two-hundred day moving average price of $62.66.

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, topping analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 EPS. Analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.4%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Wolfe Research initiated coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a "peer perform" rating for the company. CICC Research initiated coverage on Cisco Systems in a report on Monday, July 14th. They issued an "outperform" rating and a $78.00 target price on the stock. Evercore ISI reiterated an "in-line" rating and issued a $72.00 target price on shares of Cisco Systems in a report on Monday. Finally, Rosenblatt Securities upped their target price on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.35.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the sale, the senior vice president owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the transaction, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last quarter. 0.01% of the stock is currently owned by company insiders.

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.