Brooklyn Investment Group Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Brooklyn Investment Group raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 48.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 17,985 shares of the network equipment provider’s stock after buying an additional 5,831 shares during the period. Brooklyn Investment Group’s holdings in Cisco Systems were worth $957,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in Cisco Systems during the 2nd quarter worth about $25,000. Quarry LP boosted its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC raised its position in shares of Cisco Systems by 116.6% in the third 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. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems during the second quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC grew its stake in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after acquiring an additional 766 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other 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 completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,858 shares of company stock worth $19,661,157. 0.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CSCO has been the topic of several analyst reports. Morgan Stanley raised their price objective on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Rosenblatt Securities lifted their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Wells Fargo & Company upped their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Trading Up 0.3 %

CSCO opened at $58.74 on Tuesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The firm has a market capitalization of $233.95 billion, a P/E ratio of 25.21, a P/E/G ratio of 4.37 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $55.17 and its 200-day moving average is $50.24.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter last year, the firm earned $0.98 EPS. Cisco Systems’s quarterly revenue was down 5.6% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

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.