Abacus Planning Group Inc. Buys 311 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Abacus Planning Group Inc. raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,465 shares of the network equipment provider’s stock after acquiring an additional 311 shares during the quarter. Abacus Planning Group Inc.’s holdings in Cisco Systems were worth $918,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Econ Financial Services Corp bought a new position in shares of Cisco Systems in the fourth quarter worth about $29,000. Sandy Cove Advisors LLC bought a new position in shares of Cisco Systems in the fourth quarter worth about $33,000. Evolution Advisers Inc. bought a new position in shares of Cisco Systems in the fourth quarter worth about $33,000. Regency Capital Management Inc. DE acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $34,000. Finally, Steward Financial Group LLC acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $36,000. 73.18% of the stock is owned by hedge funds and other institutional investors.

CSCO has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Cisco Systems from $59.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. Oppenheimer lowered their price objective on Cisco Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 19th. UBS Group lowered their price objective on Cisco Systems from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. Wells Fargo & Company lowered their price objective on Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, May 19th. Finally, The Goldman Sachs Group lowered their price objective on Cisco Systems from $64.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, May 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.05.

In other Cisco Systems news, SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $43.10, for a total transaction of $26,161.70. Following the completion of the transaction, the senior vice president now owns 79,855 shares of the company’s stock, valued at approximately $3,441,750.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Maria Martinez sold 4,674 shares of Cisco Systems stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $43.33, for a total value of $202,524.42. Following the transaction, the chief operating officer now directly owns 286,033 shares of the company’s stock, valued at approximately $12,393,809.89. The disclosure for this sale can be found here. Insiders have sold a total of 25,326 shares of company stock worth $1,103,159 over the last quarter. Company insiders own 0.02% of the company’s stock.

Shares of CSCO opened at $43.57 on Thursday. Cisco Systems, Inc. has a 12-month low of $41.02 and a 12-month high of $64.29. The business’s fifty day moving average is $47.24 and its 200 day moving average is $53.77. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. The stock has a market cap of $180.42 billion, a P/E ratio of 15.29, a P/E/G ratio of 2.27 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a return on equity of 31.22% and a net margin of 23.28%. During the same period in the previous year, the company posted $0.75 EPS. On average, analysts expect that Cisco Systems, Inc. will post 2.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.33%.

Cisco Systems Company Profile (Get Rating)

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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