Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Pinnacle Advisory Group Inc.

Pinnacle Advisory Group Inc. increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 153.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,816 shares of the network equipment provider’s stock after acquiring an additional 7,148 shares during the quarter. Pinnacle Advisory Group Inc.’s holdings in Cisco Systems were worth $611,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. CFO4Life Group LLC lifted its holdings in Cisco Systems by 0.7% during the 1st quarter. CFO4Life Group LLC now owns 29,789 shares of the network equipment provider’s stock valued at $1,540,000 after purchasing an additional 196 shares during the last quarter. Corundum Group Inc. increased its position in Cisco Systems by 2.9% during the 1st quarter. Corundum Group Inc. now owns 7,073 shares of the network equipment provider’s stock worth $366,000 after purchasing an additional 196 shares in the last quarter. Essex Financial Services Inc. lifted its stake in shares of Cisco Systems by 0.3% in the 1st quarter. Essex Financial Services Inc. now owns 74,769 shares of the network equipment provider’s stock valued at $3,866,000 after acquiring an additional 200 shares during the last quarter. Slow Capital Inc. raised its position in shares of Cisco Systems by 0.4% during the first quarter. Slow Capital Inc. now owns 53,442 shares of the network equipment provider’s stock worth $2,763,000 after acquiring an additional 203 shares during the last quarter. Finally, TrinityPoint Wealth LLC lifted its position in shares of Cisco Systems by 1.7% in the 1st quarter. TrinityPoint Wealth LLC now owns 12,616 shares of the network equipment provider’s stock worth $652,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 72.16% of the company’s stock.

In other Cisco Systems news, SVP Prat Bhatt sold 3,829 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $53.50, for a total value of $204,851.50. Following the completion of the transaction, the senior vice president now owns 106,222 shares of the company’s stock, valued at approximately $5,682,877. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director M Michele Burns sold 13,982 shares of the stock in a transaction on Friday, March 26th. The stock was sold at an average price of $51.55, for a total transaction of $720,772.10. Following the completion of the transaction, the director now directly owns 70,468 shares in the company, valued at approximately $3,632,625.40. The disclosure for this sale can be found here. Insiders sold a total of 37,395 shares of company stock worth $1,970,410 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.

A number of research firms have commented on CSCO. Wolfe Research upgraded shares of Cisco Systems from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a report on Friday, April 16th. Robert W. Baird reiterated a “hold” rating on shares of Cisco Systems in a report on Tuesday, May 11th. Deutsche Bank Aktiengesellschaft started coverage on Cisco Systems in a report on Tuesday, April 20th. They set a “hold” rating and a $55.00 price target on the stock. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research report on Thursday, March 11th. Finally, Raymond James lifted their target price on Cisco Systems from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, May 14th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $51.85.

NASDAQ:CSCO opened at $55.03 on Friday. Cisco Systems, Inc. has a 52-week low of $35.28 and a 52-week high of $55.08. The company’s fifty day moving average is $52.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.46 and a current ratio of 1.53. The company has a market cap of $231.91 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 3.02 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a net margin of 20.92% and a return on equity of 31.12%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 28th. Investors of record on Tuesday, July 6th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.69%. The ex-dividend date is Friday, July 2nd. Cisco Systems’s payout ratio is 50.68%.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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