Wrapmanager Inc. Acquires 6,526 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wrapmanager Inc. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 26.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,868 shares of the network equipment provider’s stock after buying an additional 6,526 shares during the period. Wrapmanager Inc.’s holdings in Cisco Systems were worth $1,643,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Verity & Verity LLC lifted its stake in shares of Cisco Systems by 2.2% in the third quarter. Verity & Verity LLC now owns 353,092 shares of the network equipment provider’s stock valued at $18,792,000 after buying an additional 7,595 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Cisco Systems by 52.4% in the third quarter. Meeder Asset Management Inc. now owns 2,615 shares of the network equipment provider’s stock valued at $139,000 after buying an additional 899 shares in the last quarter. Chesapeake Wealth Management raised its holdings in shares of Cisco Systems by 1.9% in the third quarter. Chesapeake Wealth Management now owns 18,992 shares of the network equipment provider’s stock valued at $1,011,000 after purchasing an additional 348 shares during the last quarter. Caprock Group LLC raised its holdings in shares of Cisco Systems by 0.5% in the third quarter. Caprock Group LLC now owns 149,850 shares of the network equipment provider’s stock valued at $7,975,000 after purchasing an additional 817 shares during the last quarter. Finally, Aviance Capital Partners LLC raised its holdings in shares of Cisco Systems by 2.7% in the third quarter. Aviance Capital Partners LLC now owns 87,924 shares of the network equipment provider’s stock valued at $4,679,000 after purchasing an additional 2,346 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several analyst reports. Wells Fargo & Company increased their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Tigress Financial increased their target price 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. Bank of America increased 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. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, New Street Research upgraded shares of 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. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were 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 of the company’s stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The trade was a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,615 shares of company stock valued at $682,681. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Down 0.3 %

Shares of Cisco Systems stock opened at $57.31 on Tuesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The firm has a market cap of $228.71 billion, a PE ratio of 24.60, a PEG ratio of 4.67 and a beta of 0.83. 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 company has a 50 day simple moving average of $54.35 and a two-hundred day simple moving average of $49.88.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period in the previous year, the business posted $0.98 earnings per share. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 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.