PFG Advisors Acquires 7,001 Shares of Cisco Systems, Inc. $CSCO

PFG Advisors raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 21.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,216 shares of the network equipment provider’s stock after buying an additional 7,001 shares during the quarter. PFG Advisors’ holdings in Cisco Systems were worth $2,752,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Avantax Advisory Services Inc. boosted its holdings in Cisco Systems by 1.1% in the second quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock worth $29,163,000 after acquiring an additional 4,525 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cisco Systems by 6.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock valued at $218,236,000 after acquiring an additional 205,043 shares in the last quarter. Greystone Financial Group LLC acquired a new position in shares of Cisco Systems during the third quarter worth approximately $8,563,000. Jones Financial Companies Lllp raised its position in shares of Cisco Systems by 8.9% during the third quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock worth $46,165,000 after purchasing an additional 56,057 shares during the period. Finally, Rockland Trust Co. lifted its holdings in shares of Cisco Systems by 213.8% in the 3rd quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock worth $1,402,000 after purchasing an additional 13,966 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 3.1%

CSCO opened at $76.21 on Tuesday. Cisco Systems, Inc. has a twelve month low of $52.11 and a twelve month high of $88.18. The company’s 50-day moving average price is $77.93 and its two-hundred day moving average price is $74.25. The stock has a market cap of $301.02 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.97 and a beta of 0.87. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. The firm had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.2%. Cisco Systems’s dividend payout ratio is 57.54%.

Insider Buying and Selling

In related news, insider Jeetendra I. Patel sold 11,248 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $76.00, for a total transaction of $854,848.00. Following the sale, the insider directly owned 262,776 shares in the company, valued at approximately $19,970,976. This represents a 4.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 2,179 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total transaction of $169,395.46. Following the completion of the transaction, the senior vice president owned 28,807 shares of the company’s stock, valued at $2,239,456.18. This represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 75,677 shares of company stock valued at $5,811,211. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CSCO. UBS Group boosted their price objective on Cisco Systems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Erste Group Bank downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. President Capital lowered their price target on Cisco Systems from $90.00 to $88.00 in a research report on Wednesday, December 24th. Citigroup raised their price objective on Cisco Systems from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Cisco Systems in a research note on Thursday, February 12th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.55.

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Cisco Systems Profile

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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

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