Pullen Investment Management LLC Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Pullen Investment Management LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 24,615 shares of the network equipment provider’s stock, valued at approximately $1,519,000.

Several other large investors have also added to or reduced their stakes in CSCO. Glass Jacobson Investment Advisors llc boosted its position in shares of Cisco Systems by 8.7% during the 4th 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 during the last quarter. Fairhaven Wealth Management LLC boosted its position in shares of Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after acquiring an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC boosted its position in shares of Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after acquiring an additional 168 shares during the last quarter. Legacy Financial Group Inc. boosted its position in shares of Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock valued at $302,000 after acquiring an additional 169 shares during the last quarter. Finally, Maple Capital Management Inc. boosted its position in shares of Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $64.09 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business’s 50 day simple moving average is $60.47 and its two-hundred day simple moving average is $60.56. The stock has a market capitalization of $253.80 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. Analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The business 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 $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.56%. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president now directly owns 181,186 shares of the company’s stock, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,931 shares of company stock valued at $4,671,930 in the last ninety days. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CSCO shares. Rosenblatt Securities lifted their price target on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

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.