Quarry LP Has $68,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Quarry LP increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 92.3% during the third quarter, Holdings Channel reports. The institutional investor owned 1,271 shares of the network equipment provider’s stock after purchasing an additional 610 shares during the quarter. Quarry LP’s holdings in Cisco Systems were worth $68,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Aviso Wealth Management boosted its holdings in Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after purchasing an additional 181 shares in the last quarter. Waypoint Capital Advisors LLC boosted its holdings in Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after purchasing an additional 182 shares in the last quarter. Andina Capital Management LLC raised its stake in shares of Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after acquiring an additional 182 shares during the last quarter. Wealth Dimensions Group Ltd. raised its stake in shares of Cisco Systems by 1.6% in the third quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock valued at $605,000 after acquiring an additional 182 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its stake in shares of Cisco Systems by 3.8% in the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after acquiring an additional 185 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $59.89 on Monday. The firm has a market cap of $238.53 billion, a PE ratio of 25.70, a PEG ratio of 4.44 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.23. The company has a fifty day moving average price of $56.53 and a 200 day moving average price of $50.96.

Cisco Systems (NASDAQ:CSCO) last announced its 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. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research analyst reports. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Rosenblatt Securities lifted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. 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 note on Thursday, August 15th. Bank of America boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.94.

Insider Buying and Selling

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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 351,860 shares of company stock valued at $20,231,558. Company insiders own 0.01% of the company’s stock.

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.