Andesa Financial Management Inc. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 71.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,214 shares of the network equipment provider’s stock after purchasing an additional 36,809 shares during the period. Cisco Systems makes up 1.5% of Andesa Financial Management Inc.’s portfolio, making the stock its 22nd biggest position. Andesa Financial Management Inc.’s holdings in Cisco Systems were worth $4,562,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Costello Asset Management INC bought a new position in Cisco Systems during the 4th quarter valued at $26,000. Bainco International Investors bought a new position in Cisco Systems during the 4th quarter valued at $30,000. Navis Wealth Advisors LLC bought a new position in Cisco Systems during the 4th quarter valued at $30,000. Goodwin Investment Advisory bought a new position in shares of Cisco Systems in the 4th quarter worth about $31,000. Finally, Defined Wealth Management LLC bought a new position in shares of Cisco Systems in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.
Shares of CSCO traded up $0.03 during mid-day trading on Thursday, hitting $51.96. The company’s stock had a trading volume of 341,016 shares, compared to its average volume of 21,656,254. Cisco Systems, Inc. has a fifty-two week low of $35.28 and a fifty-two week high of $53.18. The firm has a 50-day moving average price of $50.26 and a 200 day moving average price of $44.86. The stock has a market capitalization of $219.36 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.54 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.59 and a quick ratio of 1.54.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.76 by $0.03. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.92 billion. During the same period last year, the company posted $0.77 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Shareholders of record on Tuesday, April 6th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.85%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, April 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 50.68%.
A number of research firms have recently issued reports on CSCO. Morgan Stanley raised their price target on shares of Cisco Systems from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday. Wolfe Research upgraded shares of Cisco Systems from a “peer perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a research report on Thursday. Citigroup raised their price target on shares of Cisco Systems from $45.00 to $50.00 in a research report on Wednesday, February 10th. The Goldman Sachs Group upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $50.00 to $59.00 in a research report on Wednesday, March 31st. Finally, DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Thursday, February 11th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $50.71.
In related news, CEO Charles Robbins sold 8,497 shares of the firm’s stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $46.20, for a total transaction of $392,561.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark D. Chandler sold 3,024 shares of the firm’s stock in a transaction that occurred on Friday, February 12th. The stock was sold at an average price of $47.21, for a total transaction of $142,763.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,776 shares of company stock valued at $1,832,205. Corporate insiders own 0.02% of the company’s stock.
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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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