Redmond Asset Management LLC Acquires 785 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Redmond Asset Management LLC raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 60,662 shares of the network equipment provider’s stock after buying an additional 785 shares during the quarter. Cisco Systems accounts for about 1.0% of Redmond Asset Management LLC’s investment portfolio, making the stock its 29th largest holding. Redmond Asset Management LLC’s holdings in Cisco Systems were worth $3,743,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the business. Ethic Inc. boosted its position in shares of Cisco Systems by 2.4% during the first quarter. Ethic Inc. now owns 442,227 shares of the network equipment provider’s stock valued at $27,330,000 after purchasing an additional 10,465 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Cisco Systems by 33.2% during the first quarter. EverSource Wealth Advisors LLC now owns 21,885 shares of the network equipment provider’s stock valued at $1,350,000 after purchasing an additional 5,458 shares in the last quarter. Element Capital Management LLC bought a new stake in shares of Cisco Systems during the first quarter valued at approximately $2,723,000. Horizon Investments LLC boosted its position in shares of Cisco Systems by 2.6% during the first quarter. Horizon Investments LLC now owns 83,450 shares of the network equipment provider’s stock valued at $5,115,000 after purchasing an additional 2,144 shares in the last quarter. Finally, Trivium Point Advisory LLC boosted its position in shares of Cisco Systems by 4.3% during the first quarter. Trivium Point Advisory LLC now owns 21,066 shares of the network equipment provider’s stock valued at $1,300,000 after purchasing an additional 870 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSCO. Rosenblatt Securities reissued a “buy” rating and issued a $87.00 target price on shares of Cisco Systems in a report on Thursday. KeyCorp began coverage on Cisco Systems in a report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 target price on the stock. Morgan Stanley boosted their target price on Cisco Systems from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Finally, Evercore ISI boosted their target price on Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $72.90.

Insider Activity at Cisco Systems

In related 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 of the company’s stock, valued at approximately $2,419,921.53. This represents a 9.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president directly owned 131,676 shares of the company’s stock, valued at approximately $8,365,376.28. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,731 shares of company stock valued at $5,021,519 in the last 90 days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Shares of CSCO opened at $69.30 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $67.98 and a two-hundred day simple moving average of $63.28. The stock has a market cap of $274.43 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 3.90 and a beta of 0.91. Cisco Systems, Inc. has a 52 week low of $47.85 and a 52 week high of $72.55.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) 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 firm had revenue of $14.67 billion during the quarter, compared to analysts’ expectations of $14.63 billion. During the same quarter last year, the business posted $0.87 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

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

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.