Prospera Private Wealth LLC Acquires New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Prospera Private Wealth LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the third quarter, HoldingsChannel reports. The fund bought 28,727 shares of the network equipment provider’s stock, valued at approximately $1,529,000.

A number of other institutional investors also recently modified their holdings of CSCO. Swedbank AB purchased a new position in Cisco Systems in the first quarter valued at about $840,538,000. Dimensional Fund Advisors LP grew its position in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after purchasing an additional 4,842,542 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Cisco Systems by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after purchasing an additional 2,906,357 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Cisco Systems by 4,524.9% in the third quarter. International Assets Investment Management LLC now owns 2,087,369 shares of the network equipment provider’s stock worth $1,110,900,000 after purchasing an additional 2,042,236 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft upped their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Citigroup increased their price target on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Finally, Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on 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 owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 321,628 shares of company stock valued at $18,449,561 in the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.5 %

Shares of CSCO opened at $57.01 on Wednesday. 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 stock has a market cap of $227.51 billion, a PE ratio of 24.47, a PEG ratio of 4.67 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. The stock has a 50 day simple moving average of $54.52 and a 200-day simple moving average of $49.95.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for 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 for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. Cisco Systems’s dividend payout ratio (DPR) 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.