Planning Directions Inc. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,108 shares of the network equipment provider’s stock, valued at approximately $225,000.
Several other large investors also recently modified their holdings of the company. Horan Securities Inc. lifted its position in Cisco Systems by 663.0% during the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock worth $33,000 after buying an additional 663 shares during the period. Evolution Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the 2nd quarter worth about $33,000. Lowe Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the 2nd quarter worth about $38,000. Cohen & Steers Inc. purchased a new position in shares of Cisco Systems in the 4th quarter worth about $51,000. Finally, ERTS Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the 4th quarter worth about $78,000. Institutional investors and hedge funds own 74.37% of the company’s stock.
In other Cisco Systems news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wesley G. Bush acquired 10,000 shares of the stock in a transaction on Friday, June 7th. The shares were acquired at an average price of $55.74 per share, with a total value of $557,400.00. Following the purchase, the director now owns 3,017 shares in the company, valued at $168,167.58. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 95,129 shares of company stock valued at $5,159,754. 0.03% of the stock is owned by insiders.
Shares of CSCO stock traded down $1.23 during trading hours on Monday, reaching $52.02. The company had a trading volume of 6,940,824 shares, compared to its average volume of 14,115,277. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $58.26. The stock has a market capitalization of $227.95 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.43 and a beta of 1.18. The company’s fifty day simple moving average is $56.48.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The business had revenue of $12.96 billion during the quarter, compared to analyst estimates of $12.89 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts forecast that Cisco Systems, Inc. will post 2.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.69%. Cisco Systems’s dividend payout ratio (DPR) is presently 59.83%.
A number of research firms have recently commented on CSCO. JPMorgan Chase & Co. restated a “buy” rating and issued a $60.00 price objective on shares of Cisco Systems in a report on Wednesday, June 12th. MKM Partners raised their price objective on Cisco Systems to $56.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. William Blair downgraded Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price objective on the stock. in a report on Wednesday, June 12th. UBS Group set a $61.00 price objective on Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Tuesday, May 21st. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.42.
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.
Recommended Story: How to Invest in the Dividend Aristocrat Index
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.