Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Albion Financial Group UT

Albion Financial Group UT increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,706 shares of the network equipment provider’s stock after purchasing an additional 1,206 shares during the period. Albion Financial Group UT’s holdings in Cisco Systems were worth $7,821,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC grew its stake in Cisco Systems by 586.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 127,776 shares of the network equipment provider’s stock worth $6,869,000 after acquiring an additional 109,164 shares during the period. AXQ Capital LP purchased a new stake in Cisco Systems in the 3rd quarter worth approximately $484,000. Adage Capital Partners GP L.L.C. grew its stake in Cisco Systems by 1.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,470,521 shares of the network equipment provider’s stock worth $240,335,000 after acquiring an additional 49,700 shares during the period. Evergreen Capital Management LLC grew its stake in Cisco Systems by 0.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 314,262 shares of the network equipment provider’s stock worth $16,895,000 after acquiring an additional 1,936 shares during the period. Finally, Legacy Advisors LLC grew its stake in Cisco Systems by 57.0% in the 3rd quarter. Legacy Advisors LLC now owns 17,299 shares of the network equipment provider’s stock worth $930,000 after acquiring an additional 6,283 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Down 0.4 %

CSCO stock traded down $0.19 during trading on Wednesday, reaching $47.09. The stock had a trading volume of 8,117,381 shares, compared to its average volume of 19,657,008. Cisco Systems, Inc. has a 1-year low of $44.95 and a 1-year high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $189.72 billion, a P/E ratio of 15.97, a PEG ratio of 2.75 and a beta of 0.85. The firm has a fifty day moving average price of $47.03 and a 200 day moving average price of $48.75.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The firm’s revenue was down 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,106 shares of company stock worth $1,908,923. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective for the company. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Finally, Citigroup assumed coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems 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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.