Concentric Wealth Management LLC Has $4.18 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Concentric Wealth Management LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,519 shares of the network equipment provider’s stock after buying an additional 295 shares during the quarter. Concentric Wealth Management LLC’s holdings in Cisco Systems were worth $4,179,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after purchasing an additional 288,775 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after buying an additional 51,924 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares during the last quarter. Quintet Private Bank Europe S.A. grew its holdings in shares of Cisco Systems by 17.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after acquiring an additional 92,179 shares in the last quarter. Finally, IRON Financial LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at about $856,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $58.55 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $233.19 billion, a PE ratio of 25.13, a PEG ratio of 4.37 and a beta of 0.83. The firm has a 50 day moving average of $55.02 and a 200-day moving average of $50.17. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38.

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

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Analysts Set New Price Targets

Several brokerages recently commented on CSCO. Citigroup increased their price target on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company boosted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Jefferies Financial Group cut their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Ten research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Insider Activity

In related news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on 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 completion of the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 342,858 shares of company stock worth $19,661,157 in the last quarter. 0.01% of the stock is owned by corporate insiders.

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.