Confluence Wealth Management LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,205 shares of the network equipment provider’s stock, valued at approximately $496,000.
Several other hedge funds have also added to or reduced their stakes in CSCO. LFA Lugano Financial Advisors SA lifted its stake in shares of Cisco Systems by 220,000.0% during the third quarter. LFA Lugano Financial Advisors SA now owns 2,201 shares of the network equipment provider’s stock valued at $107,000 after buying an additional 2,200 shares during the period. JJJ Advisors Inc. purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $110,000. Legacy Advisors LLC lifted its stake in shares of Cisco Systems by 597.6% during the second quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock valued at $148,000 after buying an additional 2,940 shares during the period. McAdam LLC lifted its stake in shares of Cisco Systems by 1,374.4% during the third quarter. McAdam LLC now owns 3,863 shares of the network equipment provider’s stock valued at $189,000 after buying an additional 3,601 shares during the period. Finally, Mcrae Capital Management Inc. purchased a new position in shares of Cisco Systems during the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 69.25% of the company’s stock.
In other news, Director Steven M. West sold 25,000 shares of the firm’s stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $47.98, for a total value of $1,199,500.00. Following the transaction, the director now owns 10,007 shares of the company’s stock, valued at approximately $480,135.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director M Michele Burns sold 4,744 shares of the firm’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $44.06, for a total transaction of $209,020.64. Following the completion of the transaction, the director now directly owns 74,164 shares in the company, valued at approximately $3,267,665.84. The disclosure for this sale can be found here. In the last three months, insiders sold 166,067 shares of company stock worth $7,804,662. Insiders own 0.03% of the company’s stock.
Shares of CSCO stock opened at $43.56 on Wednesday. Cisco Systems, Inc. has a 52 week low of $37.35 and a 52 week high of $49.47. The company has a current ratio of 2.11, a quick ratio of 2.05 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $206.77 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 2.51 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the firm posted $0.61 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 2.7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Friday, January 4th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, January 3rd. Cisco Systems’s dividend payout ratio is presently 56.41%.
Several equities analysts recently issued reports on CSCO shares. UBS Group set a $56.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Wednesday, September 26th. Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Tuesday, September 11th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Wednesday, October 3rd. JPMorgan Chase & Co. reissued a “buy” rating on shares of Cisco Systems in a research note on Thursday, November 15th. Finally, Deutsche Bank upped their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 15th. Eight analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $51.05.
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About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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