10,269 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,269 shares of the network equipment provider's stock, valued at approximately $634,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Glass Jacobson Investment Advisors llc increased 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 purchasing an additional 166 shares during the period. BlackDiamond Wealth Management LLC grew its position in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock valued at $335,000 after buying an additional 168 shares in the last quarter. Legacy Financial Group Inc. grew its position in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after buying an additional 169 shares in the last quarter. Capital Advantage Inc. grew its position in Cisco Systems by 1.0% in the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock valued at $1,028,000 after buying an additional 172 shares in the last quarter. Finally, Lynx Investment Advisory grew its position in Cisco Systems by 3.9% in the 4th quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider's stock valued at $272,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In related news, 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 transaction of $57,778.73. Following the completion of the transaction, the insider directly owned 255,377 shares of the company's stock, valued at $16,413,079.79. This trade represents a 0.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president directly owned 174,669 shares of the company's stock, valued at $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock worth $6,271,054 in the last 90 days. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. KeyCorp assumed coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price for the company. Wall Street Zen cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an "overweight" rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus price target of $70.20.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.93 during midday trading on Thursday, reaching $68.30. The stock had a trading volume of 20,370,196 shares, compared to its average volume of 20,304,885. 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 stock has a market capitalization of $270.47 billion, a P/E ratio of 27.88, a PEG ratio of 4.03 and a beta of 0.90. The firm's fifty day simple moving average is $65.67 and its 200-day simple moving average is $62.03. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share 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 business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter last year, the company earned $0.88 earnings per share. The firm's revenue was up 11.4% on a year-over-year basis. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.40%. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.

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.