Zhang Financial LLC Purchases 3,046 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Zhang Financial LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,116 shares of the network equipment provider’s stock after purchasing an additional 3,046 shares during the quarter. Zhang Financial LLC’s holdings in Cisco Systems were worth $2,348,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after acquiring an additional 288,775 shares during the last quarter. Marcum Wealth LLC increased its stake in Cisco Systems by 4.0% in the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after acquiring an additional 943 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after acquiring an additional 51,924 shares during the last quarter. Inscription Capital LLC increased its stake in Cisco Systems by 49.4% in the first quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after acquiring an additional 15,198 shares during the last quarter. Finally, Valmark Advisers Inc. increased its stake in Cisco Systems by 4.7% in the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after acquiring an additional 1,820 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.4 %

Shares of Cisco Systems stock traded down $0.21 during midday trading on Tuesday, reaching $54.06. 7,248,419 shares of the company’s stock traded hands, compared to its average volume of 19,062,557. The stock has a 50 day moving average of $50.33 and a 200-day moving average of $48.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The company has a market cap of $217.80 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $54.60.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CSCO. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Tigress Financial raised their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $56.21.

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.