Coastwise Capital Group LLC Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Coastwise Capital Group LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,470 shares of the network equipment provider’s stock after acquiring an additional 304 shares during the quarter. Cisco Systems accounts for about 1.1% of Coastwise Capital Group LLC’s holdings, making the stock its 23rd biggest holding. Coastwise Capital Group LLC’s holdings in Cisco Systems were worth $1,356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at approximately $25,000. West Financial Advisors LLC raised its holdings in 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 buying an additional 309 shares during the last quarter. Quarry LP boosted its position in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems in the 3rd quarter worth $40,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems in the second quarter valued at about $36,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $59.21 on Monday. The stock has a market capitalization of $235.82 billion, a PE ratio of 25.41, a P/E/G ratio of 4.41 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.87. The business has a 50 day simple moving average of $55.83 and a two-hundred day simple moving average of $50.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share 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 company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. Cisco Systems’s quarterly revenue was down 5.6% on a year-over-year basis. On average, research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.70%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI upped their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Rosenblatt Securities upped their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Wells Fargo & Company lifted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Citigroup increased their price target on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 339,479 shares of company stock valued at $19,490,991 over the last ninety days. 0.01% of the stock is owned by insiders.

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.