Global Assets Advisory LLC Acquires New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Global Assets Advisory LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 67,004 shares of the network equipment provider’s stock, valued at approximately $3,344,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valued Wealth Advisors LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $32,000. Delos Wealth Advisors LLC grew its holdings in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $33,000. Morton Brown Family Wealth LLC grew its holdings in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its holdings in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after buying an additional 700 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the transaction, the senior vice president now owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 over the last three months. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

CSCO opened at $47.28 on Tuesday. The stock has a market cap of $190.48 billion, a PE ratio of 15.92, a P/E/G ratio of 2.74 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19. The stock’s 50 day simple moving average is $47.12 and its 200-day simple moving average is $48.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the business posted $0.88 earnings per share. Cisco Systems’s quarterly revenue was down 12.8% on a year-over-year basis. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CSCO shares. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. initiated coverage on Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price for the company. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research report on Monday, May 13th. Finally, Barclays increased their price objective on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.47.

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.