Glass Wealth Management Co LLC Buys 506 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Glass Wealth Management Co LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,676 shares of the network equipment provider’s stock after acquiring an additional 506 shares during the period. Glass Wealth Management Co LLC’s holdings in Cisco Systems were worth $1,526,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CSCO. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at approximately $25,000. Quarry LP raised its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its position in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the period. Hobbs Group Advisors LLC bought a new stake in Cisco Systems in the 2nd quarter worth $36,000. Finally, Iron Horse Wealth Management LLC increased its position in shares of Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Citigroup increased their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.00 to $58.00 in a research note on Friday, August 16th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, UBS Group raised their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Stock Down 0.8 %

CSCO stock opened at $57.46 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $54.18 and a 200 day moving average of $49.80. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38. The firm has a market cap of $229.31 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.76 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,924 shares of company stock valued at $1,798,131 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.