Aviance Capital Partners LLC Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Aviance Capital Partners LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,924 shares of the network equipment provider’s stock after acquiring an additional 2,346 shares during the quarter. Aviance Capital Partners LLC’s holdings in Cisco Systems were worth $4,679,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cisco Systems by 226.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after acquiring an additional 18,339 shares during the last quarter. Bessemer Group Inc. raised its holdings in Cisco Systems by 33.9% in the 1st quarter. Bessemer Group Inc. now owns 231,166 shares of the network equipment provider’s stock valued at $11,538,000 after acquiring an additional 58,463 shares during the last quarter. Evermay Wealth Management LLC boosted its holdings in shares of Cisco Systems by 2.0% during the 1st quarter. Evermay Wealth Management LLC now owns 19,156 shares of the network equipment provider’s stock worth $956,000 after purchasing an additional 367 shares during the last quarter. Leelyn Smith LLC increased its holdings in shares of Cisco Systems by 1.0% in the first quarter. Leelyn Smith LLC now owns 45,375 shares of the network equipment provider’s stock valued at $2,265,000 after purchasing an additional 455 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in Cisco Systems during the first quarter worth $434,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 0.3 %

NASDAQ:CSCO opened at $57.31 on Tuesday. The stock has a market cap of $228.71 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 4.76 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.83. The stock’s 50-day moving average is $54.35 and its two-hundred day moving average is $49.88.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. This trade represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,615 shares of company stock valued at $682,681 in the last three months. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSCO. Bank of America raised their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Rosenblatt Securities boosted their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Citigroup boosted their target price on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $59.94.

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.