Ignite Planners LLC Has $790,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Ignite Planners LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,495 shares of the network equipment provider’s stock after selling 548 shares during the period. Ignite Planners LLC’s holdings in Cisco Systems were worth $790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Steward Financial Group LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new stake in Cisco Systems during the first quarter valued at $32,000. Carmel Capital Partners LLC acquired a new position in Cisco Systems in the 1st quarter worth about $35,000. Tucker Asset Management LLC purchased a new stake in shares of Cisco Systems during the 1st quarter worth about $35,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Cisco Systems during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CSCO. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $62.00 in a research report on Wednesday, July 19th. Jefferies Financial Group upped their price objective on shares of Cisco Systems from $54.00 to $59.50 and gave the stock a “buy” rating in a report on Thursday, August 17th. Citigroup raised their target price on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Morgan Stanley upped their price target on Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 17th. Finally, Evercore ISI raised their price objective on Cisco Systems from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $59.43.

Cisco Systems Stock Up 0.1 %

NASDAQ CSCO opened at $56.11 on Tuesday. Cisco Systems, Inc. has a twelve month low of $38.60 and a twelve month 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 cap of $227.52 billion, a PE ratio of 18.28, a PEG ratio of 2.48 and a beta of 0.97. The firm has a 50-day simple moving average of $54.20 and a 200 day simple moving average of $51.17.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.08. The company had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.05 billion. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. Cisco Systems’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. On average, research analysts forecast that Cisco Systems, Inc. will post 3.58 EPS for the current year.

Cisco Systems Announces Dividend

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

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 6,186 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $54.65, for a total value of $338,064.90. Following the completion of the transaction, the senior vice president now owns 64,493 shares of the company’s stock, valued at $3,524,542.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,022 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total value of $169,896.84. Following the sale, the executive vice president now owns 169,396 shares of the company’s stock, valued at approximately $9,523,443.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 6,186 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $54.65, for a total value of $338,064.90. Following the transaction, the senior vice president now owns 64,493 shares of the company’s stock, valued at $3,524,542.45. The disclosure for this sale can be found here. In the last three months, insiders sold 54,438 shares of company stock valued at $2,948,779. Company insiders own 0.02% 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 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.