Romano Brothers AND Company Purchases 7,812 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Romano Brothers AND Company grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,111 shares of the network equipment provider’s stock after buying an additional 7,812 shares during the period. Cisco Systems accounts for approximately 1.0% of Romano Brothers AND Company’s holdings, making the stock its 18th biggest position. Romano Brothers AND Company’s holdings in Cisco Systems were worth $7,542,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Samalin Investment Counsel LLC grew its position in Cisco Systems by 14.1% in the third quarter. Samalin Investment Counsel LLC now owns 4,523 shares of the network equipment provider’s stock worth $243,000 after acquiring an additional 558 shares in the last quarter. Private Advisory Group LLC boosted its holdings in shares of Cisco Systems by 7.2% in the 3rd quarter. Private Advisory Group LLC now owns 4,664 shares of the network equipment provider’s stock valued at $251,000 after buying an additional 314 shares in the last quarter. Bank of Nova Scotia grew its holdings in Cisco Systems by 9.7% in the third quarter. Bank of Nova Scotia now owns 489,244 shares of the network equipment provider’s stock worth $26,302,000 after purchasing an additional 43,069 shares during the last quarter. Morningstar Investment Services LLC grew its stake in Cisco Systems by 30.3% during the 3rd quarter. Morningstar Investment Services LLC now owns 15,343 shares of the network equipment provider’s stock worth $827,000 after buying an additional 3,567 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank increased its holdings in shares of Cisco Systems by 92.4% during the third quarter. Cape Cod Five Cents Savings Bank now owns 33,518 shares of the network equipment provider’s stock valued at $1,802,000 after acquiring an additional 16,098 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the transaction, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Up 0.1 %

NASDAQ CSCO traded up $0.06 on Friday, reaching $47.51. The stock had a trading volume of 23,921,057 shares, compared to its average volume of 20,878,226. The business has a 50 day moving average price of $47.06 and a 200 day moving average price of $48.79. Cisco Systems, Inc. has a 1 year low of $44.95 and a 1 year high of $58.19. The company has a market capitalization of $191.41 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 2.75 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the prior year, the company earned $0.88 EPS. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Citigroup initiated coverage on shares of Cisco Systems in a research report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. Oppenheimer upped their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Finally, StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.47.

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.