Bright Futures Wealth Management LLC. Purchases Shares of 9,515 Cisco Systems, Inc. $CSCO

Bright Futures Wealth Management LLC. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) in the 3rd quarter, Holdings Channel reports. The firm acquired 9,515 shares of the network equipment provider’s stock, valued at approximately $651,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Cisco Systems in the 2nd quarter valued at approximately $3,816,825,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Cisco Systems by 413.3% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,393,371 shares of the network equipment provider’s stock worth $1,553,645,000 after purchasing an additional 18,030,441 shares in the last quarter. Franklin Resources Inc. increased its holdings in Cisco Systems by 46.2% in the second quarter. Franklin Resources Inc. now owns 40,836,858 shares of the network equipment provider’s stock valued at $2,833,261,000 after buying an additional 12,904,969 shares during the last quarter. Laurel Wealth Advisors LLC raised its stake in Cisco Systems by 6,778.2% in the second quarter. Laurel Wealth Advisors LLC now owns 6,810,012 shares of the network equipment provider’s stock valued at $472,479,000 after buying an additional 6,711,004 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Cisco Systems by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 393,989,568 shares of the network equipment provider’s stock worth $27,334,996,000 after acquiring an additional 5,039,714 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 2,179 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total transaction of $169,395.46. Following the completion of the sale, the senior vice president owned 28,807 shares in the company, valued at $2,239,456.18. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeetendra I. Patel sold 11,248 shares of Cisco Systems stock in a transaction on Friday, February 13th. The shares were sold at an average price of $76.00, for a total transaction of $854,848.00. Following the completion of the transaction, the insider owned 262,776 shares in the company, valued at approximately $19,970,976. This trade represents a 4.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 75,677 shares of company stock valued at $5,811,211. 0.01% of the stock is owned by company insiders.

Cisco Systems News Summary

Here are the key news stories impacting Cisco Systems this week:

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays raised their target price on Cisco Systems from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 13th. Evercore raised shares of Cisco Systems from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $100.00 in a report on Monday, January 26th. Citic Securities upped their target price on shares of Cisco Systems from $75.00 to $90.00 in a report on Monday, November 17th. JPMorgan Chase & Co. lifted their price target on shares of Cisco Systems from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Finally, Wall Street Zen upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Saturday. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.55.

Read Our Latest Analysis on Cisco Systems

Cisco Systems Stock Up 1.7%

Shares of NASDAQ:CSCO opened at $79.46 on Monday. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $88.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The stock has a market cap of $313.86 billion, a P/E ratio of 27.88, a P/E/G ratio of 3.00 and a beta of 0.87. The firm has a fifty day moving average price of $77.82 and a 200 day moving average price of $73.75.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be paid a $0.42 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. Cisco Systems’s dividend payout ratio (DPR) is 57.54%.

Cisco Systems Profile

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

See Also

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOFree Report).

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

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