Thompson Davis & CO. Inc. Takes $274,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Thompson Davis & CO. Inc. has acquired a new stake in Cisco Systems worth approximately $274,000, adding 4,434 shares to its holdings in the first quarter.
• Cisco reported earnings of $0.99 per share for the most recent quarter, exceeding estimates by $0.01, with a revenue of $14.67 billion, a 7.6% increase year-over-year.
• The company declared a quarterly dividend of $0.41, which will be paid on October 22nd, representing an annualized dividend of $1.64 and a yield of 2.4%.

Thompson Davis & CO. Inc. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 4,434 shares of the network equipment provider's stock, valued at approximately $274,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Redmond Asset Management LLC raised its stake in Cisco Systems by 1.3% in the 1st quarter. Redmond Asset Management LLC now owns 60,662 shares of the network equipment provider's stock worth $3,743,000 after purchasing an additional 785 shares in the last quarter. Ethic Inc. raised its stake in Cisco Systems by 2.4% in the 1st quarter. Ethic Inc. now owns 442,227 shares of the network equipment provider's stock worth $27,330,000 after purchasing an additional 10,465 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Cisco Systems by 33.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 21,885 shares of the network equipment provider's stock worth $1,350,000 after purchasing an additional 5,458 shares in the last quarter. Element Capital Management LLC acquired a new position in shares of Cisco Systems in the 1st quarter valued at approximately $2,723,000. Finally, Horizon Investments LLC raised its position in shares of Cisco Systems by 2.6% in the 1st quarter. Horizon Investments LLC now owns 83,450 shares of the network equipment provider's stock valued at $5,115,000 after buying an additional 2,144 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

CSCO opened at $69.30 on Friday. The firm has a market cap of $274.43 billion, a P/E ratio of 26.45, a PEG ratio of 3.90 and a beta of 0.91. The firm has a 50-day moving average of $67.98 and a 200 day moving average of $63.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a fifty-two week low of $47.85 and a fifty-two week high of $72.55.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.24%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems's dividend payout ratio is presently 66.94%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. CICC Research began coverage on shares of Cisco Systems in a report on Monday, July 14th. They set an "outperform" rating and a $78.00 target price on the stock. Morgan Stanley upped their price objective on shares of Cisco Systems from $67.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. KeyCorp started coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective on the stock. Wolfe Research started coverage on shares of Cisco Systems in a research report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Finally, Barclays boosted their target price on shares of Cisco Systems from $66.00 to $71.00 and gave the company an "equal weight" rating in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $72.90.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer directly owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,731 shares of company stock valued at $5,021,519. Company insiders own 0.01% of the company's stock.

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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