Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 425,624 shares of the network equipment provider’s stock after purchasing an additional 6,650 shares during the period. Cisco Systems makes up about 1.7% of Valley Wealth Managers Inc.’s portfolio, making the stock its 15th largest holding. Valley Wealth Managers Inc.’s holdings in Cisco Systems were worth $22,652,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after acquiring an additional 288,775 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in Cisco Systems by 10.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after buying an additional 162,544 shares in the last quarter. Quintet Private Bank Europe S.A. raised its holdings in Cisco Systems by 17.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after buying an additional 92,179 shares in the last quarter. Finally, IRON Financial LLC bought a new position in Cisco Systems during the third quarter valued at about $856,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Down 0.2 %

NASDAQ:CSCO traded down $0.09 during midday trading on Friday, reaching $57.83. 2,719,123 shares of the stock traded hands, compared to its average volume of 19,027,750. The company has a fifty day moving average of $54.00 and a 200 day moving average of $49.69. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a market capitalization of $230.78 billion, a P/E ratio of 24.82, a PEG ratio of 4.90 and a beta of 0.83.

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 business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 EPS. On average, research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.77%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,924 shares of company stock valued at $1,798,131. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup raised their target price on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $55.00 to $66.00 in a research report on Monday. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Bank of America lifted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, UBS Group lifted their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.42.

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.