Luts & Greenleigh Group Inc. Invests $306,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Luts & Greenleigh Group Inc. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,753 shares of the network equipment provider’s stock, valued at approximately $306,000.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares during the period. Legal & General Group Plc boosted its stake in shares of Cisco Systems by 3.3% in the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP grew its holdings in Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Swedbank AB bought a new stake in shares of Cisco Systems during the first quarter valued at approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after acquiring an additional 2,906,357 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 in the last three months. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report 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. Finally, Barclays reduced their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.21.

Cisco Systems Trading Down 0.4 %

Shares of CSCO traded down $0.19 during midday trading on Tuesday, hitting $54.08. 20,064,762 shares of the stock were exchanged, compared to its average volume of 19,122,350. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market cap of $217.88 billion, a P/E ratio of 18.27, a P/E/G ratio of 4.22 and a beta of 0.83. The stock has a fifty day simple moving average of $50.33 and a 200 day simple moving average of $48.42. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.61.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 19.18% and a return on equity of 27.83%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the business earned $1.01 EPS. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS 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. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.96%. Cisco Systems’s dividend payout ratio is currently 53.87%.

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.