Tudor Financial Inc. Purchases New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Tudor Financial Inc. purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 20,615 shares of the network equipment provider’s stock, valued at approximately $1,097,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Summit Securities Group LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $25,000. Quarry LP grew its position in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC grew its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $58.59 on Thursday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. The firm has a fifty day simple moving average of $56.89 and a 200 day simple moving average of $51.19. The company has a market capitalization of $233.35 billion, a PE ratio of 25.15, a P/E/G ratio of 4.39 and a beta of 0.85. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced 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. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the firm earned $0.98 earnings per share. Cisco Systems’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CSCO shares. Barclays upped their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. UBS Group upped their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Morgan Stanley increased their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 349,894 shares of company stock valued at $20,135,273. Corporate insiders own 0.01% of the company’s stock.

About Cisco Systems

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.