Sax Wealth Advisors LLC Purchases 1,575 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sax Wealth Advisors LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 25.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,795 shares of the network equipment provider’s stock after purchasing an additional 1,575 shares during the period. Sax Wealth Advisors LLC’s holdings in Cisco Systems were worth $370,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CSCO. Sequoia Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 29.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 319,091 shares of the network equipment provider’s stock worth $16,120,000 after buying an additional 72,149 shares in the last quarter. Harbour Trust & Investment Management Co bought a new position in Cisco Systems in the 4th quarter valued at $545,000. Executive Wealth Management LLC raised its position in shares of Cisco Systems by 1.3% in the fourth quarter. Executive Wealth Management LLC now owns 145,512 shares of the network equipment provider’s stock valued at $7,351,000 after purchasing an additional 1,854 shares during the period. Kendall Capital Management lifted its position in shares of Cisco Systems by 21.4% during the fourth quarter. Kendall Capital Management now owns 33,469 shares of the network equipment provider’s stock worth $1,691,000 after acquiring an additional 5,900 shares in the last quarter. Finally, Value Partners Investments Inc. lifted its holdings in Cisco Systems by 1.1% during the 4th quarter. Value Partners Investments Inc. now owns 1,616,545 shares of the network equipment provider’s stock worth $78,892,000 after purchasing an additional 16,987 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.8 %

Shares of NASDAQ:CSCO traded down $0.36 on Friday, hitting $45.47. 21,217,648 shares of the company’s stock were exchanged, compared to its average volume of 19,636,689. The stock has a market capitalization of $183.19 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. Cisco Systems, Inc. has a 12 month low of $44.64 and a 12 month high of $58.19. The business’s 50 day simple moving average is $46.71 and its two-hundred day simple moving average is $48.07.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. Analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.52%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock worth $1,908,923 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Citigroup started coverage on Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Barclays upped their price objective on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. Finally, Wells Fargo & Company boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.47.

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.