Tounjian Advisory Partners LLC Invests $6.33 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

Tounjian Advisory Partners LLC bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 1st quarter, HoldingsChannel.com reports. The firm bought 102,568 shares of the network equipment provider’s stock, valued at approximately $6,329,000. Cisco Systems makes up approximately 1.2% of Tounjian Advisory Partners LLC’s investment portfolio, making the stock its 18th largest holding.

Other hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in Cisco Systems in the fourth quarter valued at $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems in the 4th quarter valued at about $26,000. JDM Financial Group LLC boosted its position in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. purchased a new position in Cisco Systems during the 4th quarter worth approximately $30,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSCO has been the topic of several research analyst reports. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. UBS Group lifted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup increased their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Finally, Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer now directly owns 688,409 shares of the company’s stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider now owns 257,162 shares of the company’s stock, valued at $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,400 shares of company stock worth $4,564,439. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Trading Up 2.2%

Shares of CSCO stock opened at $66.06 on Monday. The business’s fifty day moving average price is $59.61 and its 200 day moving average price is $60.38. The firm has a market capitalization of $261.60 billion, a PE ratio of 28.85, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

Cisco Systems announced that its board has approved a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.