Cisco Systems, Inc. (NASDAQ:CSCO) is Allen Wealth Management LLC’s 8th Largest Position

Allen Wealth Management LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,201 shares of the network equipment provider’s stock after purchasing an additional 1,046 shares during the period. Cisco Systems accounts for approximately 2.1% of Allen Wealth Management LLC’s portfolio, making the stock its 8th biggest position. Allen Wealth Management LLC’s holdings in Cisco Systems were worth $2,991,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pure Financial Advisors LLC grew its position in Cisco Systems by 5.8% in the third quarter. Pure Financial Advisors LLC now owns 11,702 shares of the network equipment provider’s stock worth $623,000 after acquiring an additional 645 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at $208,000. Optas LLC boosted its holdings in Cisco Systems by 149.0% in the third quarter. Optas LLC now owns 12,135 shares of the network equipment provider’s stock worth $646,000 after purchasing an additional 7,261 shares in the last quarter. Clear Creek Financial Management LLC increased its position in Cisco Systems by 9.8% during the third quarter. Clear Creek Financial Management LLC now owns 7,772 shares of the network equipment provider’s stock worth $414,000 after buying an additional 695 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its holdings in Cisco Systems by 1.0% during the third quarter. Argonautica Private Wealth Management Inc. now owns 89,508 shares of the network equipment provider’s stock valued at $4,764,000 after buying an additional 905 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The shares were 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Up 1.3 %

CSCO opened at $55.50 on Friday. The company has a market capitalization of $221.49 billion, a P/E ratio of 21.85, a P/E/G ratio of 4.61 and a beta of 0.83. 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 firm’s fifty day moving average price is $52.63 and its two-hundred day moving average price is $49.09. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue was down 10.3% on a year-over-year basis. On average, analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Analysts Set New Price Targets

CSCO has been the subject of several recent analyst reports. Rosenblatt Securities upped their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. 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. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $52.00 to $62.00 in a research note on Wednesday, October 16th. Finally, Barclays decreased their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.74.

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.