Econ Financial Services Corp Acquires New Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Econ Financial Services Corp bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,381 shares of the network equipment provider’s stock, valued at approximately $1,067,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its holdings in Cisco Systems by 0.3% during the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after acquiring an additional 202 shares during the period. Hyman Charles D grew its holdings in Cisco Systems by 0.3% in the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock valued at $3,573,000 after buying an additional 203 shares during the last quarter. Madrona Financial Services LLC increased its position in Cisco Systems by 2.4% in the 4th quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after buying an additional 207 shares during the period. Morton Brown Family Wealth LLC increased its position in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares during the period. Finally, Baker Boyer National Bank lifted its holdings in shares of Cisco Systems by 2.6% during the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after buying an additional 210 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,106 shares of company stock valued at $1,908,923. Insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of several research reports. Morgan Stanley initiated coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target on the stock. Wells Fargo & Company raised their target price on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Barclays raised their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 17th. Finally, Citigroup began coverage on shares of Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Price Performance

NASDAQ CSCO traded up $0.11 during trading hours on Monday, reaching $47.99. 11,474,881 shares of the stock traded hands, compared to its average volume of 19,537,277. The stock has a 50 day simple moving average of $46.74 and a two-hundred day simple moving average of $48.33. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19. 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 company has a market cap of $193.34 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 2.77 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last announced 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 return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period last year, the firm posted $0.88 EPS. Cisco Systems’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were given a $0.40 dividend. The ex-dividend date was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.33%. Cisco Systems’s dividend payout ratio 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.