4,434 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by Thompson Davis & CO. Inc.

Thompson Davis & CO. Inc. bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 1st quarter, HoldingsChannel reports. The fund bought 4,434 shares of the network equipment provider’s stock, valued at approximately $274,000.

Several other hedge funds also recently made changes to their positions in the company. Legacy Financial Group Inc. boosted its holdings in shares of Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock valued at $302,000 after buying an additional 169 shares in the last quarter. Capital Advantage Inc. boosted its holdings in shares of Cisco Systems by 1.0% during the 4th quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock valued at $1,028,000 after buying an additional 172 shares in the last quarter. Avalon Trust Co boosted its holdings in shares of Cisco Systems by 5.4% during the 1st quarter. Avalon Trust Co now owns 3,433 shares of the network equipment provider’s stock valued at $212,000 after buying an additional 177 shares in the last quarter. Rossmore Private Capital boosted its holdings in shares of Cisco Systems by 0.3% during the 1st quarter. Rossmore Private Capital now owns 69,220 shares of the network equipment provider’s stock valued at $4,272,000 after buying an additional 181 shares in the last quarter. Finally, Hemington Wealth Management boosted its holdings in shares of Cisco Systems by 4.1% during the 1st quarter. Hemington Wealth Management now owns 4,803 shares of the network equipment provider’s stock valued at $296,000 after buying an additional 189 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 1.6%

CSCO stock opened at $69.30 on Friday. Cisco Systems, Inc. has a 1-year low of $47.85 and a 1-year high of $72.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The company has a market capitalization of $274.43 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 3.90 and a beta of 0.91. The business has a 50 day simple moving average of $67.98 and a two-hundred day simple moving average of $63.28.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.01. Cisco Systems had a return on equity of 27.24% and a net margin of 18.45%. The business had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. During the same period in the prior year, the company posted $0.87 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio is currently 66.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CSCO. JPMorgan Chase & Co. boosted their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. CICC Research began coverage on shares of Cisco Systems in a research note on Monday, July 14th. They issued an “outperform” rating and a $78.00 price target on the stock. Citigroup upped their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. New Street Research reiterated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.90.

Insider Activity

In other news, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president directly owned 38,103 shares in the company, valued at approximately $2,419,921.53. This represents a 9.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares of the company’s stock, valued at $20,281,257.36. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,731 shares of company stock worth $5,021,519. 0.01% of the stock is owned by corporate insiders.

Cisco Systems 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.