Allen Capital Group LLC Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Allen Capital Group LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,607 shares of the network equipment provider’s stock after acquiring an additional 5,285 shares during the quarter. Allen Capital Group LLC’s holdings in Cisco Systems were worth $5,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP boosted its holdings in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. Gateway Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 14.3% in the second quarter. Gateway Wealth Partners LLC now owns 5,576 shares of the network equipment provider’s stock worth $265,000 after buying an additional 698 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in shares of Cisco Systems by 0.3% in the second quarter. Pathway Financial Advisers LLC now owns 92,565 shares of the network equipment provider’s stock valued at $4,392,000 after acquiring an additional 321 shares during the period. Granite Bay Wealth Management LLC purchased a new position in Cisco Systems during the second quarter valued at approximately $3,358,000. Finally, Ariadne Wealth Management LP bought a new stake in Cisco Systems during the 2nd quarter worth approximately $264,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $60.11 on Wednesday. The company has a market cap of $239.41 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 4.59 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The business’s fifty day simple moving average is $59.30 and its two-hundred day simple moving average is $54.32.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. Research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.66%. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CSCO. Tigress Financial boosted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Citigroup raised their price target on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a report on Friday, January 17th. UBS Group boosted their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Bank of America upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $3,345,228.12. Following the transaction, the executive vice president now owns 219,100 shares in the company, valued at approximately $12,596,059. This trade represents a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by insiders.

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.