Moran Wealth Management LLC Acquires 15,390 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Moran Wealth Management LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,047 shares of the network equipment provider’s stock after purchasing an additional 15,390 shares during the period. Moran Wealth Management LLC’s holdings in Cisco Systems were worth $25,495,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after buying an additional 288,775 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after buying an additional 51,924 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares during the last quarter. Quintet Private Bank Europe S.A. lifted its stake in Cisco Systems by 17.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after acquiring an additional 92,179 shares during the period. Finally, IRON Financial LLC purchased a new position in shares of Cisco Systems in the 3rd quarter worth $856,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,628 shares of company stock valued at $18,449,561 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSCO. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Citigroup lifted their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Barclays increased their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Bank of America lifted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Jefferies Financial Group dropped their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.21 on Wednesday, reaching $56.80. 2,015,760 shares of the company were exchanged, compared to its average volume of 19,080,109. The company’s 50-day moving average is $54.52 and its two-hundred day moving average is $49.95. The firm has a market cap of $226.67 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 4.67 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Cisco Systems Company 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.