Aspen Wealth Strategies LLC Buys 2,773 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Aspen Wealth Strategies LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 22.8% during the 3rd quarter, Holdings Channel reports. The fund owned 14,917 shares of the network equipment provider’s stock after acquiring an additional 2,773 shares during the period. Cisco Systems makes up about 0.5% of Aspen Wealth Strategies LLC’s investment portfolio, making the stock its 28th largest position. Aspen Wealth Strategies LLC’s holdings in Cisco Systems were worth $794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in shares of Cisco Systems in the second quarter valued at about $25,000. West Financial Advisors LLC increased its holdings in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the period. Quarry LP raised its position in shares of Cisco Systems by 222.4% in the second 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. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems in the second quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC grew its position in Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CSCO. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. Barclays dropped their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.74.

Cisco Systems Stock Down 1.5 %

Shares of NASDAQ CSCO opened at $54.77 on Friday. The company has a 50 day simple moving average of $52.53 and a 200 day simple moving average of $49.04. 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, Inc. has a 1 year low of $44.50 and a 1 year high of $57.06. The firm has a market cap of $218.57 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) 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 analysts’ expectations of $13.53 billion. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue was down 10.3% on a year-over-year basis. On average, research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.92%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

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.