Aspetuck Financial Management LLC Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Aspetuck Financial Management LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,932 shares of the network equipment provider’s stock, valued at approximately $613,000.

A number of other institutional investors also recently modified their holdings of CSCO. Navigoe LLC bought a new position in Cisco Systems during the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems during the fourth quarter worth $26,000. JDM Financial Group LLC increased its position in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares during the period. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the fourth quarter worth $30,000. Finally, Campbell Capital Management Inc. bought a new position in Cisco Systems during the fourth quarter worth $31,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.4%

Shares of NASDAQ CSCO opened at $68.19 on Thursday. The firm’s 50-day simple moving average is $62.04 and its 200 day simple moving average is $60.95. The company has a market cap of $270.03 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 4.06 and a beta of 0.88. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $68.64.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share 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. Shareholders 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 dividend on an annualized basis and a yield of 2.41%. Cisco Systems’s payout ratio is presently 66.94%.

Analysts Set New Price Targets

CSCO has been the topic of a number of research reports. Wells Fargo & Company raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Evercore ISI boosted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Citigroup boosted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Finally, Rosenblatt Securities boosted their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $69.11.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the company’s 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 now directly owns 174,669 shares in the company, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer now owns 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,335 shares of company stock worth $6,271,054. 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.