Gentry Private Wealth LLC Takes Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Gentry Private Wealth LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the second quarter, HoldingsChannel.com reports. The fund acquired 9,013 shares of the network equipment provider’s stock, valued at approximately $428,000.

Other hedge funds have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Cisco Systems by 1,096.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after buying an additional 2,663,676 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in Cisco Systems by 0.6% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock valued at $13,683,000 after buying an additional 1,520 shares during the last quarter. Marcum Wealth LLC grew its holdings in Cisco Systems by 4.0% in the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after buying an additional 943 shares during the last quarter. Inscription Capital LLC grew its holdings in Cisco Systems by 49.4% in the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after buying an additional 15,198 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $117,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CSCO shares. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a report on Monday, May 13th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Rosenblatt Securities lifted their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.89.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,944 shares of company stock worth $3,566,120. 0.02% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Cisco Systems stock opened at $48.50 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company has a market capitalization of $195.40 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 3.98 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.09. The business has a 50 day simple moving average of $47.84 and a 200 day simple moving average of $47.94.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.30%. Cisco Systems’s payout ratio is 53.87%.

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.