Cisco Systems, Inc. $CSCO Shares Acquired by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,270 shares of the network equipment provider’s stock after acquiring an additional 428 shares during the period. Legacy Financial Advisors Inc.’s holdings in Cisco Systems were worth $2,362,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. Navigoe LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $26,000. JDM Financial Group LLC raised its holdings in shares of 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 purchasing an additional 300 shares during the period. Pandora Wealth Inc. acquired a new stake in shares of Cisco Systems during the first quarter worth $31,000. Finally, Fairway Wealth LLC raised its holdings in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 400 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of CSCO opened at $66.95 on Tuesday. The firm has a 50-day moving average price of $68.00 and a 200 day moving average price of $63.42. The firm has a market capitalization of $265.12 billion, a PE ratio of 25.55, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. Cisco Systems, Inc. has a 52-week low of $47.85 and a 52-week high of $72.55.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The company had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. During the same period in the prior year, the company earned $0.87 EPS. Cisco Systems’s revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders 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 yield of 2.4%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems’s dividend payout ratio is presently 62.60%.

Insider Buying and Selling

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 value of $571,902.04. Following the completion of the sale, the executive vice president directly owned 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 completion of the sale, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at $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. Insiders sold 77,731 shares of company stock worth $5,021,519 in the last ninety days. Insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research reports. New Street Research reissued a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. JPMorgan Chase & Co. increased 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, July 17th. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $73.00 in a report on Monday, June 16th. KeyCorp started coverage on shares of Cisco Systems in a report on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price on the stock. Finally, William Blair upgraded shares of Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $74.53.

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. 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.