Calton & Associates Inc. lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 114.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,940 shares of the network equipment provider's stock after buying an additional 9,574 shares during the period. Calton & Associates Inc.'s holdings in Cisco Systems were worth $1,107,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc raised its holdings in shares of Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after acquiring an additional 166 shares in the last quarter. Legacy Financial Group Inc. raised its holdings in Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after purchasing an additional 169 shares in the last quarter. Capital Advantage Inc. raised its holdings in Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock worth $1,028,000 after purchasing an additional 172 shares in the last quarter. Lynx Investment Advisory raised its holdings in Cisco Systems by 3.9% in the fourth quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock worth $272,000 after purchasing an additional 174 shares in the last quarter. Finally, Meridian Wealth Advisors LLC raised its holdings in Cisco Systems by 1.7% in the fourth quarter. Meridian Wealth Advisors LLC now owns 11,593 shares of the network equipment provider's stock worth $686,000 after purchasing an additional 192 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Cisco Systems
In other news, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the sale, the insider owned 255,377 shares in the company, valued at $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $571,902.04. Following the completion of the transaction, the executive vice president directly owned 174,669 shares of the company's stock, valued at $11,447,806.26. The trade was a 4.76% 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 worth $6,271,054. 0.01% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms recently commented on CSCO. Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Evercore ISI increased their target price on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. New Street Research reissued a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.35.
View Our Latest Report on Cisco Systems
Cisco Systems Stock Up 0.7%
NASDAQ CSCO traded up $0.49 on Wednesday, reaching $68.65. 4,333,981 shares of the stock traded hands, compared to its average volume of 20,197,642. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company has a fifty day moving average price of $65.84 and a 200-day moving average price of $62.13. The company has a market cap of $271.83 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 4.09 and a beta of 0.90. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same period in the previous year, the company posted $0.88 EPS. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.39%. Cisco Systems's payout ratio is presently 66.94%.
Cisco Systems Profile
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Free Report)
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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