Oliver Luxxe Assets LLC Buys Shares of 3,685 Cisco Systems, Inc. (NASDAQ:CSCO)

Oliver Luxxe Assets LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,685 shares of the network equipment provider’s stock, valued at approximately $218,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP grew its holdings in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC boosted its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the 3rd quarter worth approximately $40,000. Capital Performance Advisors LLP bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $51,000. Finally, FSA Wealth Management LLC acquired a new stake in Cisco Systems during the third quarter valued at approximately $56,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

CSCO stock opened at $58.77 on Tuesday. The firm has a 50 day moving average of $58.38 and a two-hundred day moving average of $52.85. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23. The company has a market capitalization of $234.07 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 4.37 and a beta of 0.84. 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 (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The business’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Analyst Ratings Changes

Several research firms have issued reports on CSCO. Wells Fargo & Company upped their price target on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Morgan Stanley boosted their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $73.00 in a research report on Monday. Citigroup boosted their price objective on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Tigress Financial upped their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.95.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 353,522 shares of company stock worth $20,349,721. 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.