Cahaba Wealth Management Inc. Purchases New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cahaba Wealth Management Inc. purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,802 shares of the network equipment provider’s stock, valued at approximately $561,000.

Other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at $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 valued at $36,000 after purchasing an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems in the second quarter valued at about $36,000. Tidemark LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $41,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the 1st quarter worth about $41,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Piper Sandler reissued a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a report on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Trading Down 1.3 %

NASDAQ CSCO opened at $48.50 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.09. The stock has a market capitalization of $195.40 billion, a P/E ratio of 16.33, a PEG ratio of 3.98 and a beta of 0.83. The firm’s 50-day moving average is $47.84 and its two-hundred day moving average is $47.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its 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 net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. Cisco Systems’s payout ratio is 53.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Insiders have sold a total of 71,944 shares of company stock valued at $3,566,120 over the last 90 days. 0.02% of the stock is owned by corporate 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.