Rench Wealth Management Inc. Acquires 890 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Rench Wealth Management Inc. boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,674 shares of the network equipment provider’s stock after acquiring an additional 890 shares during the period. Rench Wealth Management Inc.’s holdings in Cisco Systems were worth $3,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Lantz Financial LLC lifted its holdings in Cisco Systems by 1.2% during the second quarter. Lantz Financial LLC now owns 60,993 shares of the network equipment provider’s stock worth $2,898,000 after acquiring an additional 736 shares in the last quarter. BDF Gestion bought a new stake in shares of Cisco Systems in the second quarter valued at about $5,741,000. Manning & Napier Advisors LLC bought a new stake in shares of Cisco Systems in the second quarter valued at about $42,666,000. CCM Investment Advisers LLC lifted its holdings in shares of Cisco Systems by 5.4% in the second quarter. CCM Investment Advisers LLC now owns 288,291 shares of the network equipment provider’s stock valued at $13,697,000 after purchasing an additional 14,873 shares in the last quarter. Finally, OLD National Bancorp IN lifted its holdings in shares of Cisco Systems by 2.4% in the second quarter. OLD National Bancorp IN now owns 224,840 shares of the network equipment provider’s stock valued at $10,682,000 after purchasing an additional 5,376 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $59.62 on Thursday. The business’s 50 day moving average price is $56.25 and its two-hundred day moving average price is $50.76. The company has a market cap of $237.45 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.43 and a beta of 0.85. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CSCO shares. Tigress Financial boosted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Barclays boosted their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Rosenblatt Securities boosted their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Evercore ISI boosted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.94.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total value of $291,542.13. Following the completion of the sale, the senior vice president now owns 51,931 shares of the company’s stock, valued at approximately $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 344,360 shares of company stock valued at $19,782,533. 0.01% of the stock is owned by insiders.

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.