Leo Wealth LLC Grows Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Leo Wealth LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 60,548 shares of the network equipment provider’s stock after acquiring an additional 3,223 shares during the quarter. Leo Wealth LLC’s holdings in Cisco Systems were worth $3,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. AdvisorNet Financial Inc grew its stake in Cisco Systems by 19.1% during the 1st quarter. AdvisorNet Financial Inc now owns 16,034 shares of the network equipment provider’s stock worth $800,000 after buying an additional 2,577 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Cisco Systems during the first quarter worth approximately $3,344,000. Austin Private Wealth LLC increased its holdings in shares of Cisco Systems by 6.1% in the 1st quarter. Austin Private Wealth LLC now owns 7,657 shares of the network equipment provider’s stock valued at $373,000 after acquiring an additional 440 shares during the period. New England Professional Planning Group Inc. raised its position in Cisco Systems by 8.8% in the 1st quarter. New England Professional Planning Group Inc. now owns 7,319 shares of the network equipment provider’s stock valued at $365,000 after purchasing an additional 590 shares during the last quarter. Finally, DLK Investment Management LLC boosted its stake in Cisco Systems by 2.3% during the 1st quarter. DLK Investment Management LLC now owns 63,065 shares of the network equipment provider’s stock worth $3,148,000 after purchasing an additional 1,393 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This 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 this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

CSCO traded up $0.14 during trading on Tuesday, reaching $56.73. The company’s stock had a trading volume of 8,230,716 shares, compared to its average volume of 19,101,881. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.06. The company’s fifty day moving average price is $51.41 and its 200-day moving average price is $48.66. The company has a market capitalization of $228.55 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

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, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 EPS. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Tigress Financial boosted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Evercore ISI boosted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus target price of $56.74.

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.