Garden State Investment Advisory Services LLC Purchases 244 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Garden State Investment Advisory Services LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,500 shares of the network equipment provider’s stock after purchasing an additional 244 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Cisco Systems were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings LLC raised its holdings in Cisco Systems by 0.6% in the third quarter. Chevy Chase Trust Holdings LLC now owns 2,333,566 shares of the network equipment provider’s stock worth $124,192,000 after purchasing an additional 13,726 shares in the last quarter. Coastwise Capital Group LLC raised its holdings in Cisco Systems by 1.2% in the third quarter. Coastwise Capital Group LLC now owns 25,470 shares of the network equipment provider’s stock worth $1,356,000 after purchasing an additional 304 shares in the last quarter. Ascent Group LLC increased its holdings in shares of Cisco Systems by 2.5% during the third quarter. Ascent Group LLC now owns 46,613 shares of the network equipment provider’s stock valued at $2,481,000 after acquiring an additional 1,119 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its holdings in shares of Cisco Systems by 23.1% during the third quarter. Beacon Investment Advisory Services Inc. now owns 140,929 shares of the network equipment provider’s stock valued at $7,500,000 after acquiring an additional 26,446 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in shares of Cisco Systems by 1,496.4% during the third 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 in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CSCO. Bank of America raised their price target on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. UBS Group raised their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, Tigress Financial increased their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.94.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction 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 trade represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems 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 sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 344,360 shares of company stock valued at $19,782,533 over the last quarter. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Up 0.4 %

Shares of NASDAQ:CSCO opened at $59.43 on Tuesday. The stock has a market capitalization of $236.70 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 4.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock’s 50-day simple moving average is $55.83 and its two-hundred day simple moving average is $50.54. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.87.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.