Certuity LLC Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Certuity LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 9.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,097 shares of the network equipment provider's stock after buying an additional 3,911 shares during the period. Certuity LLC's holdings in Cisco Systems were worth $2,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. Legacy Financial Group Inc. boosted its position in shares of Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after acquiring an additional 169 shares during the last quarter. Capital Advantage Inc. boosted its position in shares of Cisco Systems by 1.0% during the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock worth $1,028,000 after acquiring an additional 172 shares during the last quarter. Avalon Trust Co boosted its position in shares of Cisco Systems by 5.4% during the first quarter. Avalon Trust Co now owns 3,433 shares of the network equipment provider's stock worth $212,000 after acquiring an additional 177 shares during the last quarter. Rossmore Private Capital boosted its position in shares of Cisco Systems by 0.3% during the first quarter. Rossmore Private Capital now owns 69,220 shares of the network equipment provider's stock worth $4,272,000 after acquiring an additional 181 shares during the last quarter. Finally, Hemington Wealth Management lifted its position in Cisco Systems by 4.1% during the first quarter. Hemington Wealth Management now owns 4,803 shares of the network equipment provider's stock valued at $296,000 after purchasing an additional 189 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. New Street Research reiterated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Evercore ISI reiterated an "in-line" rating and set a $72.00 price objective on shares of Cisco Systems in a research report on Monday, July 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Finally, Morgan Stanley raised their target price on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $71.85.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Oliver Tuszik sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president directly owned 131,676 shares in the company, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Down 1.5%

Shares of Cisco Systems stock opened at $70.32 on Thursday. The firm's 50 day moving average price is $67.89 and its 200-day moving average price is $63.21. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 52-week low of $45.04 and a 52-week high of $72.55. The company has a market cap of $278.45 billion, a P/E ratio of 28.70, a PEG ratio of 3.96 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.01. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. The company's quarterly revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.