Pettyjohn Wood & White Inc. boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,802 shares of the network equipment provider’s stock after purchasing an additional 10,923 shares during the quarter. Cisco Systems comprises 1.5% of Pettyjohn Wood & White Inc.’s portfolio, making the stock its 25th largest position. Pettyjohn Wood & White Inc.’s holdings in Cisco Systems were worth $4,783,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Evolution Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at approximately $33,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at approximately $38,000. Personal Wealth Partners purchased a new stake in shares of Cisco Systems during the second quarter valued at approximately $44,000. Ashburton Jersey Ltd purchased a new stake in shares of Cisco Systems during the second quarter valued at approximately $49,000. Finally, Cordasco Financial Network grew its holdings in shares of Cisco Systems by 78.4% during the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after buying an additional 502 shares during the last quarter. Institutional investors and hedge funds own 73.27% of the company’s stock.
In other Cisco Systems news, EVP David Goeckeler sold 70,000 shares of Cisco Systems stock in a transaction on Friday, September 20th. The shares were sold at an average price of $49.22, for a total value of $3,445,400.00. Following the completion of the transaction, the executive vice president now directly owns 429,398 shares of the company’s stock, valued at approximately $21,134,969.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 18,955 shares of Cisco Systems stock in a transaction on Friday, September 13th. The stock was sold at an average price of $50.04, for a total transaction of $948,508.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 193,130 shares of company stock worth $9,359,179. 0.03% of the stock is currently owned by insiders.
Several equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Cisco Systems from a “strong sell” rating to a “sell” rating in a report on Thursday. Cowen dropped their target price on shares of Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Robert W. Baird set a $54.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Friday, September 13th. UBS Group set a $58.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Nomura raised their target price on shares of Cisco Systems from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and an average price target of $55.92.
Shares of CSCO stock traded up $0.41 on Friday, hitting $48.83. 14,406,400 shares of the stock traded hands, compared to its average volume of 20,421,934. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. The firm has a market cap of $202.69 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 2.30 and a beta of 1.28. The firm has a 50 day simple moving average of $47.57 and a two-hundred day simple moving average of $52.11. Cisco Systems, Inc. has a 52 week low of $40.25 and a 52 week high of $58.26.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. Cisco Systems’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.03 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.87%. Cisco Systems’s dividend payout ratio is currently 49.12%.
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 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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