Bright Futures Wealth Management LLC. Purchases Shares of 9,515 Cisco Systems, Inc. $CSCO

Bright Futures Wealth Management LLC. purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,515 shares of the network equipment provider’s stock, valued at approximately $651,000.

Other large investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. lifted its stake in shares of Cisco Systems by 1.1% in the second quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock worth $29,163,000 after buying an additional 4,525 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cisco Systems by 6.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock valued at $218,236,000 after acquiring an additional 205,043 shares during the last quarter. Greystone Financial Group LLC acquired a new position in shares of Cisco Systems during the 3rd quarter worth approximately $8,563,000. Jones Financial Companies Lllp grew its position in shares of Cisco Systems by 8.9% in the third quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock valued at $46,165,000 after purchasing an additional 56,057 shares in the last quarter. Finally, Rockland Trust Co. grew its position in shares of Cisco Systems by 213.8% in the third quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock valued at $1,402,000 after purchasing an additional 13,966 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of analyst reports. DZ Bank upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Erste Group Bank cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. UBS Group upped their price objective on shares of Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Zacks Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Melius Research boosted their target price on shares of Cisco Systems from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $89.55.

Read Our Latest Report on Cisco Systems

Cisco Systems Stock Up 1.7%

Shares of CSCO opened at $79.46 on Monday. The company’s 50-day moving average price is $77.82 and its 200 day moving average price is $73.75. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $88.18. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The firm has a market cap of $313.86 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same period last year, the business earned $0.94 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s payout ratio is currently 57.54%.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 19,545 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the transaction, the chief executive officer owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. This trade represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeetendra I. Patel sold 11,248 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the sale, the insider directly owned 262,776 shares in the company, valued at approximately $19,970,976. The trade was a 4.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 75,677 shares of company stock valued at $5,811,211. Corporate insiders own 0.01% of the company’s stock.

Key Headlines Impacting Cisco Systems

Here are the key news stories impacting Cisco Systems this week:

Cisco Systems Company Profile

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

See Also

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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