Prentiss Smith & Co. Inc. Acquires 233 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Prentiss Smith & Co. Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% during the first quarter, Holdings Channel reports. The fund owned 143,481 shares of the network equipment provider’s stock after purchasing an additional 233 shares during the period. Cisco Systems makes up about 5.7% of Prentiss Smith & Co. Inc.’s portfolio, making the stock its biggest position. Prentiss Smith & Co. Inc.’s holdings in Cisco Systems were worth $8,854,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Kingswood Wealth Advisors LLC increased its position in Cisco Systems by 139.3% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 102,266 shares of the network equipment provider’s stock valued at $6,317,000 after acquiring an additional 59,531 shares in the last quarter. Accelerate Investment Advisors LLC bought a new position in Cisco Systems in the 1st quarter worth approximately $234,000. Cornerstone Wealth Management LLC lifted its holdings in Cisco Systems by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 42,886 shares of the network equipment provider’s stock worth $2,646,000 after buying an additional 489 shares in the last quarter. Cushing Capital Partners LLC bought a new position in Cisco Systems in the 1st quarter valued at $1,003,000. Finally, Five Oceans Advisors acquired a new stake in shares of Cisco Systems in the 1st quarter valued at $332,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

CSCO stock opened at $65.33 on Wednesday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The firm has a market cap of $258.71 billion, a PE ratio of 26.67, a P/E/G ratio of 3.95 and a beta of 0.88. The business’s 50-day moving average price is $60.86 and its two-hundred day moving average price is $60.66.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the previous year, the business posted $0.88 EPS. Cisco Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 29,784 shares of Cisco Systems 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the sale, the senior vice president now directly owns 36,937 shares in the company, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,931 shares of company stock valued at $4,671,930 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CSCO shares. Evercore ISI upped their price target on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Rosenblatt Securities upped their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.11.

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.