Leavell Investment Management Inc. Acquires 19,169 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Leavell Investment Management Inc. lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 29.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 83,559 shares of the network equipment provider’s stock after buying an additional 19,169 shares during the quarter. Leavell Investment Management Inc.’s holdings in Cisco Systems were worth $4,447,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CSCO. Summit Securities Group LLC purchased a new position in shares of Cisco Systems in the second quarter worth $25,000. West Financial Advisors LLC grew its holdings in Cisco Systems by 116.6% in the 3rd 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 last quarter. Quarry LP increased its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems during the second quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in shares of Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after purchasing an additional 766 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $58.06 on Friday. The business has a fifty day moving average price of $53.30 and a 200-day moving average price of $49.40. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.30. 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 market capitalization of $231.70 billion, a PE ratio of 22.86, a PEG ratio of 4.63 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results 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. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. Cisco Systems’s dividend payout ratio is presently 62.99%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred 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 owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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 in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last 90 days. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Evercore ISI lifted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Thirteen research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $56.74.

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.