Coastwise Capital Group LLC Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Coastwise Capital Group LLC raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 25,470 shares of the network equipment provider’s stock after acquiring an additional 304 shares during the quarter. Cisco Systems makes up about 1.1% of Coastwise Capital Group LLC’s holdings, making the stock its 23rd largest holding. Coastwise Capital Group LLC’s holdings in Cisco Systems were worth $1,356,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the stock. Ascent Group LLC grew its stake in shares of Cisco Systems by 2.5% during the 3rd quarter. Ascent Group LLC now owns 46,613 shares of the network equipment provider’s stock worth $2,481,000 after purchasing an additional 1,119 shares during the period. Beacon Investment Advisory Services Inc. lifted its position in shares of Cisco Systems by 23.1% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 140,929 shares of the network equipment provider’s stock valued at $7,500,000 after buying an additional 26,446 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Cisco Systems by 1,496.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 134,748 shares of the network equipment provider’s stock valued at $7,171,000 after acquiring an additional 126,307 shares during the period. Kestra Investment Management LLC purchased a new stake in Cisco Systems in the 3rd quarter worth $1,589,000. Finally, Alerus Financial NA lifted its holdings in Cisco Systems by 1,887.1% during the third quarter. Alerus Financial NA now owns 112,210 shares of the network equipment provider’s stock valued at $5,972,000 after purchasing an additional 106,563 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 other news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 339,479 shares of company stock valued at $19,490,991 over the last 90 days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Down 0.1 %

Shares of CSCO opened at $59.21 on Monday. The company’s 50-day simple moving average is $55.83 and its 200-day simple moving average is $50.54. 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 $59.87. The stock has a market capitalization of $235.82 billion, a PE ratio of 25.41, a P/E/G ratio of 4.41 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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 return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company 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 dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSCO. Barclays increased their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Ten 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. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

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.