Portside Wealth Group LLC Has $4.77 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Portside Wealth Group LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 89,637 shares of the network equipment provider’s stock after acquiring an additional 8,967 shares during the period. Cisco Systems accounts for about 0.8% of Portside Wealth Group LLC’s portfolio, making the stock its 27th biggest position. Portside Wealth Group LLC’s holdings in Cisco Systems were worth $4,771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CSCO. China Universal Asset Management Co. Ltd. raised its stake in shares of Cisco Systems by 226.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock worth $1,319,000 after buying an additional 18,339 shares during the last quarter. PFG Advisors raised its stake in shares of Cisco Systems by 3.7% during the first quarter. PFG Advisors now owns 21,311 shares of the network equipment provider’s stock worth $1,064,000 after buying an additional 752 shares during the last quarter. Nelson Capital Management LLC increased its stake in Cisco Systems by 1.9% in the first quarter. Nelson Capital Management LLC now owns 120,110 shares of the network equipment provider’s stock valued at $5,995,000 after purchasing an additional 2,213 shares in the last quarter. Equity Investment Corp increased its stake in Cisco Systems by 0.5% in the first quarter. Equity Investment Corp now owns 1,128,571 shares of the network equipment provider’s stock valued at $56,327,000 after purchasing an additional 6,006 shares in the last quarter. Finally, Nvwm LLC increased its stake in Cisco Systems by 4.2% in the first quarter. Nvwm LLC now owns 24,434 shares of the network equipment provider’s stock valued at $1,220,000 after purchasing an additional 976 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Activity

In other 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 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the firm’s 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 transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 over the last ninety days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

Shares of CSCO opened at $58.08 on Friday. The stock has a market capitalization of $231.78 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 4.63 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $53.00 and a 200 day simple moving average of $49.27. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $58.30.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 62.99%.

Wall Street Analyst Weigh In

Several brokerages have commented on CSCO. Evercore ISI upped their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Jefferies Financial Group lowered their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.74.

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.