Net Worth Advisory Group Invests $2.13 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

Net Worth Advisory Group bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 39,966 shares of the network equipment provider’s stock, valued at approximately $2,127,000. Cisco Systems comprises approximately 0.6% of Net Worth Advisory Group’s portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also bought and sold shares of CSCO. RFG Advisory LLC increased its position in shares of Cisco Systems by 2.4% in the first quarter. RFG Advisory LLC now owns 42,135 shares of the network equipment provider’s stock valued at $2,103,000 after acquiring an additional 990 shares during the period. GSG Advisors LLC purchased a new position in Cisco Systems during the 1st quarter valued at about $221,000. Central Bank & Trust Co. raised its position in Cisco Systems by 17.4% during the 1st quarter. Central Bank & Trust Co. now owns 25,764 shares of the network equipment provider’s stock valued at $1,286,000 after purchasing an additional 3,812 shares during the last quarter. &PARTNERS lifted its holdings in Cisco Systems by 54.5% in the 1st quarter. &PARTNERS now owns 64,687 shares of the network equipment provider’s stock worth $3,220,000 after buying an additional 22,824 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of Cisco Systems by 15.6% in the 1st quarter. International Assets Investment Management LLC now owns 39,625 shares of the network equipment provider’s stock worth $1,983,000 after buying an additional 5,359 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $62.00 in a research note on Wednesday. Rosenblatt Securities increased their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Barclays cut their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.74.

Insider Activity

In related news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated 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 owns 132,910 shares of the company’s stock, valued at approximately $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 sold 70,529 shares of company stock valued at $3,509,049 over the last three months. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $56.76 on Friday. The firm has a market cap of $228.68 billion, a P/E ratio of 19.11, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $56.87. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $51.17 and a 200 day moving average of $48.60.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping 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 analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. As a group, research analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.82%. Cisco Systems’s dividend payout ratio is presently 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.