Raelipskie Partnership Acquires New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Raelipskie Partnership bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the third quarter, HoldingsChannel.com reports. The firm bought 30,031 shares of the network equipment provider’s stock, valued at approximately $1,598,000.

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

Cisco Systems Price Performance

Shares of CSCO opened at $59.89 on Monday. The business’s 50-day moving average is $56.53 and its two-hundred day moving average is $50.96. The company has a market capitalization of $238.53 billion, a P/E ratio of 25.70, a P/E/G ratio of 4.46 and a beta of 0.85. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

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

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors 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 2.67%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Ratings Changes

A number of analysts have weighed in on CSCO shares. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, August 15th. Evercore ISI boosted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Tigress Financial boosted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Barclays increased their price objective on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Insider Buying and Selling

In other news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now owns 65,915 shares in the company, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 351,860 shares of company stock valued at $20,231,558. Corporate 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.