Allworth Financial LP Acquires 1,653 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Allworth Financial LP raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 465,314 shares of the network equipment provider’s stock after buying an additional 1,653 shares during the period. Allworth Financial LP’s holdings in Cisco Systems were worth $24,764,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Swedbank AB bought a new stake in shares of Cisco Systems during the 1st quarter worth about $840,538,000. Dimensional Fund Advisors LP lifted its position in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. Natixis boosted its holdings in shares of Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after acquiring an additional 4,010,228 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after purchasing an additional 2,906,357 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC increased its stake in shares of Cisco Systems by 318.4% during the first quarter. Capitolis Liquid Global Markets LLC now owns 3,782,100 shares of the network equipment provider’s stock worth $188,765,000 after purchasing an additional 2,878,100 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CSCO. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. Jefferies Financial Group lowered their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.74.

Insider Activity

In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last quarter. 0.02% of the stock is owned by company insiders.

Cisco Systems Price Performance

CSCO stock opened at $55.74 on Friday. The stock has a market cap of $224.57 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a 50 day simple moving average of $52.12 and a 200 day simple moving average of $48.87. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $57.06.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

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.