Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Providence Capital Advisors LLC

Providence Capital Advisors LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,153 shares of the network equipment provider’s stock after acquiring an additional 468 shares during the quarter. Cisco Systems comprises 1.8% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. Providence Capital Advisors LLC’s holdings in Cisco Systems were worth $9,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter valued at approximately $25,000. West Financial Advisors LLC lifted its holdings in shares of Cisco Systems by 116.6% in 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 during the period. Quarry LP lifted its holdings in shares of Cisco Systems by 222.4% in 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 during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at approximately $40,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter valued at approximately $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 339,479 shares of company stock valued at $19,490,991. 0.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on CSCO shares. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Bank of America raised their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Evercore ISI raised their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company raised their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Ten research 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. According to MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $59.29 on Thursday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.87. The stock has a market capitalization of $236.14 billion, a P/E ratio of 25.45, a PEG ratio of 4.38 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $55.53 and its 200 day moving average price is $50.39.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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 company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

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.