Cascade Investment Advisors Inc. Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cascade Investment Advisors Inc. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,135 shares of the network equipment provider’s stock after buying an additional 1,170 shares during the period. Cascade Investment Advisors Inc.’s holdings in Cisco Systems were worth $1,069,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. DNB Asset Management AS raised its holdings in shares of Cisco Systems by 24.0% in the third quarter. DNB Asset Management AS now owns 1,898,241 shares of the network equipment provider’s stock valued at $74,772,000 after purchasing an additional 367,328 shares during the last quarter. Loveless Wealth Management LLC grew its position in Cisco Systems by 2.3% in the 3rd quarter. Loveless Wealth Management LLC now owns 32,264 shares of the network equipment provider’s stock worth $1,271,000 after purchasing an additional 731 shares in the last quarter. First United Bank Trust increased its stake in Cisco Systems by 1.6% in the 3rd quarter. First United Bank Trust now owns 33,020 shares of the network equipment provider’s stock valued at $1,300,000 after buying an additional 504 shares during the last quarter. Viking Fund Management LLC lifted its position in shares of Cisco Systems by 33.3% during the 3rd quarter. Viking Fund Management LLC now owns 60,000 shares of the network equipment provider’s stock worth $2,363,000 after buying an additional 15,000 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its stake in shares of Cisco Systems by 17.6% in the 3rd quarter. North Star Investment Management Corp. now owns 71,452 shares of the network equipment provider’s stock worth $2,814,000 after buying an additional 10,669 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

NASDAQ:CSCO opened at $40.16 on Friday. The stock has a market cap of $170.01 billion, a P/E ratio of 15.27, a PEG ratio of 2.16 and a beta of 0.87. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $39.95 and its two-hundred day moving average price is $43.30. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $50.28.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. The business had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $12.09 billion. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. During the same period last year, the firm posted $0.83 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.44 annualized dividend and a yield of 3.59%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.

Several research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price objective on Cisco Systems from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Thursday, August 13th. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research report on Monday, August 10th. William Blair reaffirmed a “market perform” rating on shares of Cisco Systems in a research report on Thursday, August 13th. ValuEngine downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 1st. Finally, Bank of America lowered their price target on shares of Cisco Systems from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. Cisco Systems currently has an average rating of “Hold” and a consensus price target of $47.45.

In other Cisco Systems news, CAO Prat Bhatt sold 2,873 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $42.11, for a total value of $120,982.03. Following the completion of the sale, the chief accounting officer now owns 82,006 shares of the company’s stock, valued at $3,453,272.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 7,806 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $42.10, for a total transaction of $328,632.60. The disclosure for this sale can be found here. In the last three months, insiders sold 60,166 shares of company stock worth $2,528,248. 0.03% of the stock is owned by insiders.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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