Park Avenue Securities LLC Has $6.38 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)


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Park Avenue Securities LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 22.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 123,341 shares of the network equipment provider’s stock after purchasing an additional 22,430 shares during the quarter. Park Avenue Securities LLC’s holdings in Cisco Systems were worth $6,378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Costello Asset Management INC acquired a new position in shares of Cisco Systems during the 4th quarter valued at about $26,000. Bainco International Investors bought a new stake in shares of Cisco Systems in the 4th quarter worth about $30,000. Navis Wealth Advisors LLC bought a new position in Cisco Systems during the 4th quarter valued at about $30,000. Goodwin Investment Advisory acquired a new position in Cisco Systems in the fourth quarter valued at about $31,000. Finally, Defined Wealth Management LLC acquired a new position in Cisco Systems in the fourth quarter worth $34,000. Institutional investors own 70.62% of the company’s stock.

Shares of NASDAQ:CSCO traded down $0.35 during trading on Tuesday, reaching $50.82. 186,023 shares of the stock were exchanged, compared to its average volume of 21,005,725. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.59 and a quick ratio of 1.54. The stock has a fifty day moving average of $51.33 and a two-hundred day moving average of $45.58. The firm has a market cap of $214.55 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.54 and a beta of 0.95. Cisco Systems, Inc. has a 1-year low of $35.28 and a 1-year high of $53.18.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.92 billion. During the same quarter last year, the business posted $0.77 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.86 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th were given a $0.37 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Monday, April 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 50.68%.

In related news, Director M Michele Burns sold 13,982 shares of the business’s stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $51.55, for a total transaction of $720,772.10. Following the completion of the transaction, the director now owns 70,468 shares of the company’s stock, valued at $3,632,625.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Prat Bhatt sold 6,273 shares of the firm’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $47.21, for a total value of $296,148.33. Following the completion of the sale, the chief accounting officer now directly owns 119,282 shares in the company, valued at approximately $5,631,303.22. The disclosure for this sale can be found here. Insiders have sold a total of 37,776 shares of company stock worth $1,832,205 in the last ninety days. Insiders own 0.02% of the company’s stock.

Several research firms recently issued reports on CSCO. Wolfe Research upgraded Cisco Systems from a “peer perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a report on Thursday, April 22nd. The Goldman Sachs Group raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $50.00 to $59.00 in a research note on Wednesday, March 31st. Citigroup boosted their target price on Cisco Systems from $45.00 to $50.00 in a research report on Wednesday, February 10th. KeyCorp reiterated a “sector weight” rating on shares of Cisco Systems in a report on Thursday, April 29th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a research report on Thursday, March 11th. Fourteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $50.71.

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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

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