SNS Financial Group LLC Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

SNS Financial Group LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,168 shares of the network equipment provider’s stock after purchasing an additional 1,545 shares during the quarter. SNS Financial Group LLC’s holdings in Cisco Systems were worth $1,908,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CSCO. Waypoint Capital Advisors LLC boosted its holdings in shares of Cisco Systems by 12.0% in the 2nd quarter. Waypoint Capital Advisors LLC now owns 6,315 shares of the network equipment provider’s stock valued at $300,000 after acquiring an additional 677 shares during the last quarter. Institute for Wealth Management LLC. lifted its position in Cisco Systems by 10.1% during the second quarter. Institute for Wealth Management LLC. now owns 20,332 shares of the network equipment provider’s stock valued at $966,000 after purchasing an additional 1,858 shares during the period. Baillie Gifford & Co. grew its position in Cisco Systems by 2.7% during the 2nd quarter. Baillie Gifford & Co. now owns 1,092,004 shares of the network equipment provider’s stock worth $51,881,000 after purchasing an additional 28,526 shares during the period. Fullcircle Wealth LLC purchased a new position in shares of Cisco Systems during the 2nd quarter valued at about $1,033,000. Finally, Kanawha Capital Management LLC lifted its holdings in shares of Cisco Systems by 3.0% in the 2nd quarter. Kanawha Capital Management LLC now owns 314,176 shares of the network equipment provider’s stock valued at $14,926,000 after buying an additional 9,267 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on 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 in the company, valued at $2,352,210.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,274 shares of company stock worth $4,764,829. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CSCO. Jefferies Financial Group reduced their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. Barclays decreased their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.89.

Cisco Systems Trading Up 1.0 %

Cisco Systems stock traded up $0.52 during midday trading on Friday, reaching $50.74. The stock had a trading volume of 16,474,069 shares, compared to its average volume of 19,887,607. The stock has a market capitalization of $204.42 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The stock’s 50-day simple moving average is $47.20 and its 200 day simple moving average is $47.89. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm posted $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.15%. Cisco Systems’s payout ratio is currently 53.87%.

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.