Valeo Financial Advisors LLC Purchases 2,297 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Valeo Financial Advisors LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 95,410 shares of the network equipment provider’s stock after purchasing an additional 2,297 shares during the period. Valeo Financial Advisors LLC’s holdings in Cisco Systems were worth $5,078,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cypress Wealth Services LLC raised its stake in Cisco Systems by 1.7% in the 3rd quarter. Cypress Wealth Services LLC now owns 12,161 shares of the network equipment provider’s stock valued at $647,000 after acquiring an additional 198 shares during the period. Baker Boyer National Bank increased its stake in shares of Cisco Systems by 2.6% in the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after purchasing an additional 210 shares in the last quarter. Holland Advisory Services Inc. raised its position in shares of Cisco Systems by 5.3% in the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock valued at $211,000 after purchasing an additional 213 shares during the period. WealthPLAN Partners LLC raised its stake in shares of Cisco Systems by 3.0% during the 1st quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock valued at $369,000 after purchasing an additional 213 shares during the period. Finally, Ruedi Wealth Management Inc. increased its holdings in Cisco Systems by 17.6% during the 1st quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock worth $73,000 after acquiring an additional 218 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Up 1.3 %

Shares of Cisco Systems stock opened at $54.25 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.58. 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 moving average of $50.14 and a 200 day moving average of $48.40. The firm has a market cap of $216.50 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 4.22 and a beta of 0.83.

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

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. Cisco Systems’s payout ratio is currently 62.99%.

Analyst Ratings Changes

Several brokerages recently issued reports on CSCO. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Evercore ISI boosted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Finally, Rosenblatt Securities raised their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.00.

Insider Activity at Cisco Systems

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