Keystone Financial Planning Inc. boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 197,007 shares of the network equipment provider’s stock after buying an additional 995 shares during the period. Cisco Systems comprises 4.8% of Keystone Financial Planning Inc.’s investment portfolio, making the stock its 2nd largest holding. Keystone Financial Planning Inc.’s holdings in Cisco Systems were worth $8,536,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Horan Securities Inc. raised its stake in shares of Cisco Systems by 663.0% in the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock valued at $33,000 after purchasing an additional 663 shares in the last quarter. Highwater Wealth Management LLC acquired a new position in Cisco Systems during the fourth quarter worth $51,000. Contravisory Investment Management Inc. acquired a new position in Cisco Systems during the fourth quarter worth $49,000. Acropolis Investment Management LLC acquired a new position in Cisco Systems during the fourth quarter worth $101,000. Finally, Hanseatic Management Services Inc. raised its stake in Cisco Systems by 74.6% during the fourth quarter. Hanseatic Management Services Inc. now owns 2,654 shares of the network equipment provider’s stock worth $115,000 after acquiring an additional 1,134 shares in the last quarter. Institutional investors own 74.49% of the company’s stock.
In other Cisco Systems news, EVP Mark D. Chandler sold 3,750 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $55.79, for a total value of $209,212.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wesley G. Bush bought 10,000 shares of the stock in a transaction on Friday, June 7th. The stock was purchased at an average cost of $55.74 per share, with a total value of $557,400.00. Following the acquisition, the director now owns 3,017 shares in the company, valued at $168,167.58. The disclosure for this purchase can be found here. Insiders sold a total of 95,129 shares of company stock valued at $5,159,754 over the last 90 days. 0.03% of the stock is currently owned by corporate insiders.
CSCO has been the subject of several recent analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday, May 16th. Bank of America set a $62.00 target price on Cisco Systems and gave the company a “buy” rating in a research note on Thursday, May 16th. Jefferies Financial Group raised their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. They noted that the move was a valuation call. BidaskClub lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 7th. Finally, Goldman Sachs Group cut Cisco Systems from a “conviction-buy” rating to a “buy” rating and raised their price target for the company from $58.00 to $62.00 in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $56.13.
Shares of NASDAQ:CSCO traded up $0.52 during trading on Wednesday, hitting $56.60. 14,713,562 shares of the company were exchanged, compared to its average volume of 21,107,967. The stock has a market capitalization of $242.29 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 2.92 and a beta of 1.21. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $58.15. The firm has a fifty day simple moving average of $54.87. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The firm had revenue of $12.96 billion for the quarter, compared to analyst estimates of $12.89 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.40 annualized dividend and a yield of 2.47%. Cisco Systems’s dividend payout ratio (DPR) is presently 59.83%.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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