8,481 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,481 shares of the network equipment provider’s stock, valued at approximately $423,000.

Several other large investors also recently made changes to their positions in CSCO. Charles Schwab Investment Management Inc. lifted its position in Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Cisco Systems by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock valued at $3,417,011,000 after buying an additional 2,386,508 shares during the last quarter. Norges Bank purchased a new stake in Cisco Systems in the 4th quarter valued at $2,528,939,000. Wellington Management Group LLP grew its holdings in shares of Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after acquiring an additional 3,314,330 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Cisco Systems by 12.3% in the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after acquiring an additional 2,723,260 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock worth $1,908,923 in the last ninety days. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 1.0 %

Shares of Cisco Systems stock traded up $0.47 during trading hours on Wednesday, hitting $46.27. The company had a trading volume of 18,258,216 shares, compared to its average volume of 19,587,133. The company’s 50-day moving average is $46.90 and its two-hundred day moving average is $48.63. The company has a market cap of $186.41 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 2.67 and a beta of 0.85. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.46%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CSCO shares. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Monday, May 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Morgan Stanley started coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective for the company. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus target price of $56.47.

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. 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.