Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by RBA Wealth Management LLC

RBA Wealth Management LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,838 shares of the network equipment provider’s stock after buying an additional 1,273 shares during the quarter. RBA Wealth Management LLC’s holdings in Cisco Systems were worth $3,735,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Schonfeld Strategic Advisors LLC boosted its stake in Cisco Systems by 586.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 127,776 shares of the network equipment provider’s stock worth $6,869,000 after buying an additional 109,164 shares during the period. AXQ Capital LP acquired a new stake in shares of Cisco Systems during the third quarter worth about $484,000. Legacy Advisors LLC lifted its position in shares of Cisco Systems by 57.0% during the third quarter. Legacy Advisors LLC now owns 17,299 shares of the network equipment provider’s stock worth $930,000 after purchasing an additional 6,283 shares in the last quarter. Lakeshore Financial Planning Inc. acquired a new stake in shares of Cisco Systems during the third quarter worth about $206,000. Finally, KPP Advisory Services LLC acquired a new stake in shares of Cisco Systems during the third quarter worth about $990,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Morgan Stanley assumed coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Citigroup assumed coverage on shares of Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Finally, BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $56.47.

Cisco Systems Stock Performance

Shares of CSCO traded down $0.19 during mid-day trading on Thursday, reaching $47.09. 8,118,296 shares of the company’s stock were exchanged, compared to its average volume of 19,658,074. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The stock has a market capitalization of $189.72 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. The business’s fifty day simple moving average is $47.00 and its 200-day simple moving average is $48.74. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19.

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 analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the firm posted $0.88 EPS. Cisco Systems’s quarterly revenue was down 12.8% on a year-over-year basis. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed 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 is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 in the last three months. Insiders own 0.02% of the company’s stock.

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.