Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by BayBridge Capital Group LLC

BayBridge Capital Group LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.0% in the third quarter, HoldingsChannel reports. The firm owned 9,792 shares of the network equipment provider’s stock after acquiring an additional 557 shares during the period. BayBridge Capital Group LLC’s holdings in Cisco Systems were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Lake Street Advisors Group LLC boosted its position in shares of Cisco Systems by 5.1% during the third quarter. Lake Street Advisors Group LLC now owns 48,304 shares of the network equipment provider’s stock worth $2,571,000 after buying an additional 2,326 shares during the period. Financial Management Network Inc. bought a new stake in Cisco Systems during the 3rd quarter valued at $421,000. Blackston Financial Advisory Group LLC boosted its position in Cisco Systems by 12.9% during the 3rd quarter. Blackston Financial Advisory Group LLC now owns 11,447 shares of the network equipment provider’s stock worth $609,000 after acquiring an additional 1,306 shares during the period. Ballentine Partners LLC grew its stake in shares of Cisco Systems by 7.3% in the third quarter. Ballentine Partners LLC now owns 72,908 shares of the network equipment provider’s stock worth $3,880,000 after purchasing an additional 4,974 shares in the last quarter. Finally, Heritage Oak Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the third quarter valued at $205,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO opened at $55.74 on Friday. The firm has a market capitalization of $224.57 billion, a P/E ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83. The stock has a fifty day moving average of $52.12 and a 200-day moving average of $48.87. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) 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 firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the business earned $1.01 EPS. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 53.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CSCO shares. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Jefferies Financial Group cut their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.74.

Insider Buying and Selling 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 completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were 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 of the company’s stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by company insiders.

About Cisco Systems

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.