First Affirmative Financial Network Boosts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

First Affirmative Financial Network raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 15.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,084 shares of the network equipment provider’s stock after buying an additional 1,188 shares during the quarter. First Affirmative Financial Network’s holdings in Cisco Systems were worth $507,000 at the end of the most recent reporting period.

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

CSCO stock opened at $43.57 on Thursday. Cisco Systems, Inc. has a fifty-two week low of $41.02 and a fifty-two week high of $64.29. The business’s 50-day moving average is $47.24 and its two-hundred day moving average is $53.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.40 and a current ratio of 1.49. The company has a market cap of $180.42 billion, a price-to-earnings 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 posted its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share for the quarter, beating 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 prior year, the business earned $0.75 EPS. Equities analysts predict that Cisco Systems, Inc. will post 2.99 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Tuesday, July 5th. Cisco Systems’s dividend payout ratio is 53.33%.

In other news, SVP Prat Bhatt sold 3,700 shares of the firm’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $43.34, for a total value of $160,358.00. Following the transaction, the senior vice president now owns 80,784 shares of the company’s stock, valued at $3,501,178.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the completion of the transaction, the chief executive officer now directly owns 651,577 shares in the company, valued at approximately $28,532,556.83. The disclosure for this sale can be found here. In the last three months, insiders sold 25,326 shares of company stock worth $1,103,159. 0.02% of the stock is owned by corporate insiders.

A number of analysts recently weighed in on the company. Citigroup dropped their target price on Cisco Systems from $45.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, May 19th. Evercore ISI dropped their target price on Cisco Systems from $62.00 to $50.00 and set an “outperform” rating for the company in a research report 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 report on Thursday, May 19th. TheStreet downgraded Cisco Systems from a “b” rating to a “c+” rating in a research report on Wednesday, June 15th. Finally, 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 report on Thursday, May 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.05.

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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