Truvestments Capital LLC Buys 1,582 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Truvestments Capital LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,405 shares of the network equipment provider’s stock after buying an additional 1,582 shares during the period. Truvestments Capital LLC’s holdings in Cisco Systems were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Cisco Systems during the 2nd quarter worth approximately $25,000. Quarry LP raised its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC raised its holdings in Cisco Systems by 116.6% in the third 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 during the period. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems during the second quarter worth $36,000. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSCO has been the topic of several research analyst reports. Bank of America raised their price objective on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Evercore ISI raised their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $58.74 on Tuesday. The stock has a market capitalization of $233.95 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 4.37 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The stock has a 50 day moving average price of $55.17 and a 200 day moving average price of $50.24. 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 (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. Analysts predict 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. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems’s payout ratio is 68.67%.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’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 transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 342,858 shares of company stock valued at $19,661,157. 0.01% of the stock is owned by company insiders.

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.