LRI Investments LLC Buys 10,472 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

LRI Investments LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 104.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,514 shares of the network equipment provider’s stock after purchasing an additional 10,472 shares during the period. LRI Investments LLC’s holdings in Cisco Systems were worth $1,188,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CSCO. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $25,000. Quarry LP increased its position in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC raised its position in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Cisco Systems during the second quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the third quarter worth $40,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CSCO shares. Piper Sandler boosted their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price target 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. Finally, Barclays boosted their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $59.89 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.23. The company has a market cap of $238.53 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 4.46 and a beta of 0.85. The stock’s 50 day simple moving average is $56.53 and its 200-day simple moving average is $50.96.

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

Cisco Systems Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were 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 owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,860 shares of company stock worth $20,231,558 in the last 90 days. Insiders own 0.01% of the company’s stock.

Cisco Systems 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.