LPL Financial LLC Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

LPL Financial LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,230,797 shares of the network equipment provider’s stock after buying an additional 73,153 shares during the period. LPL Financial LLC owned about 0.11% of Cisco Systems worth $201,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $25,000. Retirement Group LLC lifted its holdings in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the period. Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the 2nd quarter valued at $36,000. Tidemark LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at $41,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the 1st quarter worth $41,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $49.11 on Thursday. The firm’s fifty day moving average is $47.94 and its two-hundred day moving average is $47.94. The firm has a market cap of $197.86 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 3.82 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $56.86. 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 announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the business earned $1.01 earnings per share. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. Research analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.26%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CSCO. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and a consensus price target of $55.89.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,563 shares of company stock valued at $3,412,764. Corporate insiders own 0.02% of the company’s stock.

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.