Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 181,959 shares of the network equipment provider’s stock after purchasing an additional 975 shares during the period. Cisco Systems comprises approximately 2.3% of Benedict Financial Advisors Inc.’s portfolio, making the stock its 6th biggest position. Benedict Financial Advisors Inc.’s holdings in Cisco Systems were worth $9,684,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Brookstone Capital Management lifted its holdings in Cisco Systems by 9.4% during the first quarter. Brookstone Capital Management now owns 55,083 shares of the network equipment provider’s stock worth $2,749,000 after acquiring an additional 4,712 shares during the period. OneAscent Wealth Management LLC boosted its holdings in shares of Cisco Systems by 9.3% in the 1st quarter. OneAscent Wealth Management LLC now owns 4,370 shares of the network equipment provider’s stock worth $218,000 after buying an additional 371 shares during the last quarter. Independence Bank of Kentucky grew its position in Cisco Systems by 10.1% during the first quarter. Independence Bank of Kentucky now owns 12,537 shares of the network equipment provider’s stock valued at $626,000 after buying an additional 1,150 shares during the period. Griffin Asset Management Inc. increased its holdings in Cisco Systems by 3.9% during the first quarter. Griffin Asset Management Inc. now owns 8,348 shares of the network equipment provider’s stock worth $417,000 after buying an additional 313 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC raised its position in Cisco Systems by 0.3% in the first quarter. Alpha Omega Wealth Management LLC now owns 172,998 shares of the network equipment provider’s stock worth $8,634,000 after acquiring an additional 530 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.22 during midday trading on Friday, hitting $55.74. 14,680,466 shares of the company’s stock were exchanged, compared to its average volume of 19,091,068. The stock has a 50-day moving average price of $52.12 and a two-hundred day moving average price of $48.87. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.06. The company has a market cap of $224.57 billion, a P/E ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. Cisco Systems’s payout ratio is 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Evercore ISI increased their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, 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 report on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Company 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.