Lebenthal Global Advisors LLC Purchases 573 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Lebenthal Global Advisors LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,818 shares of the network equipment provider’s stock after acquiring an additional 573 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Cisco Systems were worth $324,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Cordant Inc. bought a new position in Cisco Systems in the 1st quarter worth $28,000. Huntington National Bank increased its holdings in shares of Cisco Systems by 1.7% during the 1st quarter. Huntington National Bank now owns 832,155 shares of the network equipment provider’s stock worth $46,401,000 after purchasing an additional 13,832 shares during the period. Country Club Bank GFN bought a new position in shares of Cisco Systems during the 1st quarter worth about $16,783,000. Brendel Financial Advisors LLC bought a new position in shares of Cisco Systems during the 1st quarter worth about $307,000. Finally, Providence Wealth Advisors LLC increased its holdings in shares of Cisco Systems by 1.4% during the 1st quarter. Providence Wealth Advisors LLC now owns 21,176 shares of the network equipment provider’s stock worth $1,179,000 after purchasing an additional 291 shares during the period. Institutional investors own 73.18% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock opened at $49.37 on Friday. Cisco Systems, Inc. has a 1 year low of $40.82 and a 1 year high of $64.29. The firm’s 50 day moving average is $44.18 and its 200-day moving average is $49.34. The firm has a market capitalization of $204.44 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 2.30 and a beta of 0.97. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its earnings results on Wednesday, August 17th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a net margin of 22.91% and a return on equity of 30.91%. The company had revenue of $13.10 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same period in the prior year, the business earned $0.76 earnings per share. Cisco Systems’s quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.12 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th were given a dividend of $0.38 per share. The ex-dividend date was Tuesday, July 5th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.08%. Cisco Systems’s payout ratio is 53.90%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Cisco Systems from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI boosted their price objective on shares of Cisco Systems from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Thursday. Citigroup lifted their target price on shares of Cisco Systems from $40.00 to $44.00 and gave the company a “sell” rating in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 19th. Finally, Credit Suisse Group lifted their target price on shares of Cisco Systems from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $55.59.

Insider Transactions at Cisco Systems

In other news, SVP Prat Bhatt sold 607 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $43.10, for a total transaction of $26,161.70. Following the transaction, the senior vice president now directly owns 79,855 shares in the company, valued at $3,441,750.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Prat Bhatt sold 607 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $43.10, for a total transaction of $26,161.70. Following the completion of the sale, the senior vice president now directly owns 79,855 shares of the company’s stock, valued at $3,441,750.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Maria Martinez sold 3,628 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $43.34, for a total transaction of $157,237.52. Following the sale, the chief operating officer now directly owns 295,305 shares of the company’s stock, valued at $12,798,518.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,326 shares of company stock worth $1,103,159. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Company Profile

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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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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