7,788 Shares in Cisco Systems, Inc. $CSCO Purchased by San Luis Wealth Advisors LLC

San Luis Wealth Advisors LLC acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 7,788 shares of the network equipment provider’s stock, valued at approximately $533,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bare Financial Services Inc raised its position in shares of Cisco Systems by 531.0% in the second quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock valued at $25,000 after buying an additional 308 shares in the last quarter. Marquette Asset Management LLC bought a new position in Cisco Systems during the 3rd quarter worth $25,000. Lowe Wealth Advisors LLC raised its holdings in Cisco Systems by 96.2% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in shares of Cisco Systems by 115.7% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 251 shares during the period. Finally, Kilter Group LLC acquired a new stake in shares of Cisco Systems during the 2nd quarter worth $44,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. HSBC boosted their price target on Cisco Systems from $74.00 to $77.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Evercore upgraded shares of Cisco Systems from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $100.00 in a research report on Monday, January 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Cisco Systems in a report on Thursday, February 12th. Citigroup boosted their price objective on shares of Cisco Systems from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Argus upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $89.55.

Get Our Latest Report on CSCO

Insider Activity at Cisco Systems

In other news, insider Jeetendra I. Patel sold 11,248 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was 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. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 551 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $77.54, for a total value of $42,724.54. Following the completion of the transaction, the senior vice president directly owned 27,957 shares of the company’s stock, valued at $2,167,785.78. This represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,799 shares of company stock worth $5,815,306 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Key Headlines Impacting Cisco Systems

Here are the key news stories impacting Cisco Systems this week:

Cisco Systems Stock Up 0.5%

CSCO stock opened at $79.27 on Wednesday. The firm has a 50-day moving average price of $78.16 and a 200-day moving average price of $74.68. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $88.18. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $313.11 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 2.98 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is currently 58.95%.

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.

See Also

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOFree Report).

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

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