Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Brooklyn Investment Group

Brooklyn Investment Group grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 48.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,985 shares of the network equipment provider’s stock after acquiring an additional 5,831 shares during the period. Brooklyn Investment Group’s holdings in Cisco Systems were worth $957,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the second quarter valued at approximately $25,000. Quarry LP increased its holdings in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC raised its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the period. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the second quarter valued at $36,000. Finally, Iron Horse Wealth Management LLC grew its position in shares of Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after purchasing an additional 766 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 342,858 shares of company stock worth $19,661,157. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.3 %

Shares of NASDAQ CSCO opened at $58.74 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The company has a market capitalization of $233.95 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 4.37 and a beta of 0.83. The business has a 50-day moving average of $55.17 and a two-hundred day moving average of $50.24.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts forecast that Cisco Systems, Inc. will post 2.97 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, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CSCO shares. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Citigroup increased their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Barclays upped their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued 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 $59.94.

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.