Larson Financial Group LLC Boosts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Larson Financial Group LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 51.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,664 shares of the network equipment provider’s stock after buying an additional 6,357 shares during the period. Larson Financial Group LLC’s holdings in Cisco Systems were worth $993,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Summit Securities Group LLC bought a new position in Cisco Systems in the 2nd quarter valued at approximately $25,000. Quarry LP lifted its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC lifted its position in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Cisco Systems in the 2nd quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC lifted its position in Cisco Systems by 617.7% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.7 %

Shares of CSCO stock opened at $58.55 on Monday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a market capitalization of $233.19 billion, a PE ratio of 25.13, a PEG ratio of 4.28 and a beta of 0.83. The stock has a fifty day simple moving average of $55.02 and a two-hundred day simple moving average of $50.17.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. Cisco Systems’s payout ratio is 68.67%.

Insider Activity

In related news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 342,858 shares of company stock worth $19,661,157 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CSCO. Tigress Financial upped their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Evercore ISI increased their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Bank of America increased their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Ten investment 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’s stock. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

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.