Peloton Wealth Strategists Has $3.50 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Peloton Wealth Strategists lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,179 shares of the network equipment provider’s stock after purchasing an additional 2,080 shares during the period. Peloton Wealth Strategists’ holdings in Cisco Systems were worth $3,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Private Trust Co. boosted its holdings in Cisco Systems by 0.3% in the 4th quarter. Legacy Private Trust Co. now owns 119,870 shares of the network equipment provider’s stock valued at $7,596,000 after purchasing an additional 349 shares during the period. Tobias Financial Advisors Inc. bought a new stake in Cisco Systems in the 4th quarter valued at about $1,062,000. Formidable Asset Management LLC boosted its holdings in Cisco Systems by 111.8% in the 3rd quarter. Formidable Asset Management LLC now owns 31,331 shares of the network equipment provider’s stock valued at $1,705,000 after purchasing an additional 16,538 shares during the period. Ensign Peak Advisors Inc boosted its holdings in Cisco Systems by 2.0% in the 3rd quarter. Ensign Peak Advisors Inc now owns 3,430,765 shares of the network equipment provider’s stock valued at $186,736,000 after purchasing an additional 67,518 shares during the period. Finally, Breakline Capital LLC boosted its holdings in Cisco Systems by 366.6% in the 3rd quarter. Breakline Capital LLC now owns 128,528 shares of the network equipment provider’s stock valued at $6,996,000 after purchasing an additional 100,980 shares during the period. Institutional investors and hedge funds own 73.18% of the company’s stock.

In related news, CEO Charles Robbins sold 15,382 shares of the stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $53.86, for a total transaction of $828,474.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Prat Bhatt sold 3,623 shares of the stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $56.40, for a total transaction of $204,337.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,605 shares of company stock worth $1,121,147. 0.02% of the stock is owned by insiders.

A number of analysts have recently weighed in on CSCO shares. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, January 24th. The Goldman Sachs Group downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Wednesday, January 19th. Cowen upped their price target on shares of Cisco Systems from $61.00 to $66.00 in a report on Thursday, February 17th. Wells Fargo & Company downgraded shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $70.00 to $65.00 in a report on Thursday, March 10th. Finally, Loop Capital initiated coverage on shares of Cisco Systems in a research note on Monday, February 14th. They issued a “buy” rating and a $71.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $62.44.

Shares of CSCO traded up $1.27 during trading hours on Friday, hitting $49.56. 18,948,650 shares of the stock were exchanged, compared to its average volume of 19,540,174. Cisco Systems, Inc. has a fifty-two week low of $47.47 and a fifty-two week high of $64.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.42 and a quick ratio of 1.34. The business has a 50-day moving average of $52.97 and a 200-day moving average of $55.98. The firm has a market capitalization of $205.88 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its quarterly earnings data on Wednesday, February 16th. The network equipment provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. Cisco Systems had a net margin of 22.94% and a return on equity of 30.95%. The company had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.67 billion. During the same period in the prior year, the company posted $0.71 earnings per share. Cisco Systems’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts forecast that Cisco Systems, Inc. will post 3.09 earnings per share for the current fiscal year.

Cisco Systems declared that its board has authorized a share repurchase plan on Wednesday, February 16th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 27th. Stockholders of record on Wednesday, April 6th were given a dividend of $0.38 per share. The ex-dividend date was Tuesday, April 5th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 3.07%. Cisco Systems’s dividend payout ratio is 54.29%.

Cisco Systems Profile (Get Rating)

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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