Prudent Investors Network Inc. Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Prudent Investors Network Inc. purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,508 shares of the network equipment provider’s stock, valued at approximately $225,000.

Several other large investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC raised its position in shares of Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in Cisco Systems in the 4th quarter worth approximately $33,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Bourgeon Capital Management LLC grew its position in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares in the last quarter. Finally, Retirement Group LLC increased its holdings in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of CSCO traded up $0.15 during mid-day trading on Tuesday, hitting $48.14. 20,132,617 shares of the company’s stock were exchanged, compared to its average volume of 19,538,229. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a fifty-two week low of $44.95 and a fifty-two week high of $58.19. The business’s 50 day moving average is $46.77 and its two-hundred day moving average is $48.32. The firm has a market capitalization of $193.95 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.77 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. Cisco Systems’s payout ratio is currently 53.87%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,106 shares of company stock worth $1,908,923. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CSCO shares. Oppenheimer boosted their price objective on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Monday, May 13th. Barclays boosted their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Finally, Citigroup assumed coverage on shares of Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $56.47.

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.