Buckley Wealth Management LLC Has $8.84 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Buckley Wealth Management LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,864 shares of the network equipment provider’s stock after selling 3,554 shares during the quarter. Cisco Systems makes up about 3.0% of Buckley Wealth Management LLC’s portfolio, making the stock its 10th biggest position. Buckley Wealth Management LLC’s holdings in Cisco Systems were worth $8,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Financial Group LLC purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new position in shares of Cisco Systems during the first quarter worth $32,000. Fortis Capital Advisors LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth $34,000. Carmel Capital Partners LLC purchased a new stake in shares of Cisco Systems during the 1st quarter valued at $35,000. Finally, Tucker Asset Management LLC purchased a new position in Cisco Systems during the 1st quarter worth $35,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.1 %

Shares of CSCO opened at $56.11 on Tuesday. The stock has a 50 day moving average price of $54.20 and a 200 day moving average price of $51.17. Cisco Systems, Inc. has a one year low of $38.60 and a one year high of $58.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 1.38. The stock has a market capitalization of $227.52 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.48 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The firm had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.05 billion. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. Cisco Systems’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 3.58 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio is presently 50.81%.

Insider Activity

In related news, CFO Richard Scott Herren sold 2,579 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total value of $130,626.35. Following the transaction, the chief financial officer now directly owns 281,493 shares in the company, valued at $14,257,620.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 2,158 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $55.15, for a total value of $119,013.70. Following the completion of the transaction, the executive vice president now owns 173,618 shares of the company’s stock, valued at $9,575,032.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 2,579 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total transaction of $130,626.35. Following the sale, the chief financial officer now directly owns 281,493 shares in the company, valued at $14,257,620.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,438 shares of company stock valued at $2,948,779. 0.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CSCO. Oppenheimer reiterated an “outperform” rating and issued a $58.00 price target on shares of Cisco Systems in a research note on Thursday, August 17th. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, August 21st. 51job reiterated an “initiates” rating on shares of Cisco Systems in a research note on Friday, June 30th. Finally, Evercore ISI upped their target price on Cisco Systems from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $59.43.

Read Our Latest Analysis on CSCO

Cisco Systems Profile

(Free Report)

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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

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