Shum Financial Group Inc. Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Shum Financial Group Inc. purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 18,255 shares of the network equipment provider’s stock, valued at approximately $1,025,000.

Other institutional 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 in the second quarter worth $25,000. Quarry LP increased its stake in shares of 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 in the last quarter. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the second quarter valued at $36,000. Finally, Iron Horse Wealth Management LLC grew its stake in Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

NASDAQ CSCO traded up $0.46 on Tuesday, hitting $59.20. 1,513,188 shares of the company’s stock traded hands, compared to its average volume of 19,177,025. 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 1-year low of $44.50 and a 1-year high of $59.41. The firm’s 50-day moving average price is $55.17 and its two-hundred day moving average price is $50.24. The firm has a market capitalization of $235.78 billion, a PE ratio of 25.21, a P/E/G ratio of 4.37 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) 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 business posted $0.98 EPS. The business’s revenue was down 5.6% compared to the same quarter last year. As a group, analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction 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 directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 342,858 shares of company stock worth $19,661,157. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. UBS Group raised their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Citigroup raised their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Rosenblatt Securities raised their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.94.

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.