PFG Advisors Invests $1.50 Million in Cisco Systems, Inc. (NASDAQ:CSCO) Stock

PFG Advisors bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, HoldingsChannel reports. The firm bought 31,367 shares of the network equipment provider’s stock, valued at approximately $1,502,000.

A number of other institutional investors have also modified their holdings of the business. Chesapeake Wealth Management lifted its position in shares of Cisco Systems by 1.2% during the fourth quarter. Chesapeake Wealth Management now owns 19,181 shares of the network equipment provider’s stock valued at $831,000 after buying an additional 229 shares during the last quarter. Bigelow Investment Advisors LLC raised its position in shares of Cisco Systems by 0.5% in the 4th quarter. Bigelow Investment Advisors LLC now owns 44,515 shares of the network equipment provider’s stock valued at $1,929,000 after purchasing an additional 235 shares during the last quarter. Waldron Private Wealth LLC raised its position in shares of Cisco Systems by 1.5% in the 3rd quarter. Waldron Private Wealth LLC now owns 16,212 shares of the network equipment provider’s stock valued at $788,000 after purchasing an additional 242 shares during the last quarter. M&R Capital Management Inc. raised its position in shares of Cisco Systems by 1.7% in the 4th quarter. M&R Capital Management Inc. now owns 14,639 shares of the network equipment provider’s stock valued at $634,000 after purchasing an additional 242 shares during the last quarter. Finally, Certified Advisory Corp raised its position in shares of Cisco Systems by 3.8% in the 4th quarter. Certified Advisory Corp now owns 6,888 shares of the network equipment provider’s stock valued at $298,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 74.60% of the company’s stock.

Several brokerages recently commented on CSCO. William Blair lowered shares of Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price objective for the company. in a research report on Wednesday. BidaskClub lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. Goldman Sachs Group lowered shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and increased their price objective for the company from $58.00 to $62.00 in a research report on Tuesday, April 16th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Thursday, May 16th. Finally, Bank of America set a $62.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Thursday, May 16th. Seven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.92.

In other news, Director Steven M. West sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the sale, the director now owns 5,263 shares of the company’s stock, valued at approximately $295,833.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Chandler sold 1,379 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $55.94, for a total transaction of $77,141.26. The disclosure for this sale can be found here. Insiders have sold a total of 95,129 shares of company stock worth $5,159,754 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Shares of NASDAQ:CSCO opened at $54.75 on Friday. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $57.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.69. The company has a market capitalization of $240.45 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 2.87 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The company had revenue of $12.96 billion for the quarter, compared to the consensus estimate of $12.89 billion. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. Cisco Systems’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.56%. Cisco Systems’s payout ratio is 59.83%.

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

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