Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Janiczek Wealth Management LLC

Janiczek Wealth Management LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.1% during the 1st quarter, HoldingsChannel reports. The fund owned 19,110 shares of the network equipment provider’s stock after acquiring an additional 2,214 shares during the quarter. Janiczek Wealth Management LLC’s holdings in Cisco Systems were worth $954,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. MQS Management LLC purchased a new stake in Cisco Systems in the 3rd quarter valued at about $513,000. Mather Group LLC. raised its holdings in Cisco Systems by 8.1% in the 3rd quarter. Mather Group LLC. now owns 59,297 shares of the network equipment provider’s stock valued at $3,188,000 after buying an additional 4,456 shares during the period. Vinva Investment Management Ltd increased its stake in Cisco Systems by 14.0% during the third quarter. Vinva Investment Management Ltd now owns 145,748 shares of the network equipment provider’s stock worth $7,853,000 after purchasing an additional 17,862 shares during the period. Treasurer of the State of North Carolina increased its stake in Cisco Systems by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 2,025,293 shares of the network equipment provider’s stock worth $108,880,000 after purchasing an additional 7,731 shares during the period. Finally, Trustmark National Bank Trust Department increased its stake in Cisco Systems by 4.9% during the third quarter. Trustmark National Bank Trust Department now owns 123,792 shares of the network equipment provider’s stock worth $6,655,000 after purchasing an additional 5,837 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. 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 target on the stock. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Monday, May 13th. Finally, Citigroup began coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price on the stock. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.47.

Cisco Systems Stock Performance

Shares of CSCO stock traded up $0.47 during trading hours on Thursday, hitting $47.33. The stock had a trading volume of 7,065,724 shares, compared to its average volume of 19,653,295. The firm has a market capitalization of $190.68 billion, a PE ratio of 15.84, a PEG ratio of 2.74 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 stock’s 50 day moving average is $47.09 and its 200 day moving average is $48.82. 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 posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 earnings per share. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on 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 owns 725,363 shares of the company’s stock, 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 valued at $1,908,923 over the last three months. 0.02% of the stock is currently owned by company insiders.

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.