Kingsview Wealth Management LLC Purchases 10,734 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Kingsview Wealth Management LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 239,429 shares of the network equipment provider’s stock after acquiring an additional 10,734 shares during the period. Kingsview Wealth Management LLC’s holdings in Cisco Systems were worth $12,742,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC purchased a new stake in Cisco Systems during the 2nd quarter valued at approximately $25,000. Quarry LP grew its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC grew its holdings in Cisco Systems by 116.6% during the 3rd 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 in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Cisco Systems during the 2nd quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC grew its holdings in Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Bank of America raised their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. Finally, Citigroup lifted their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.94.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 342,858 shares of company stock worth $19,661,157. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

CSCO stock opened at $58.55 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The business has a 50-day moving average price of $55.02 and a 200 day moving average price of $50.13. The company has a market capitalization of $233.19 billion, a P/E ratio of 25.13, a PEG ratio of 4.28 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Cisco Systems 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.