Icon Wealth Advisors LLC Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Icon Wealth Advisors LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,812 shares of the network equipment provider’s stock after purchasing an additional 702 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Cisco Systems were worth $2,651,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of Cisco Systems in the 2nd quarter valued at about $25,000. West Financial Advisors LLC increased its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Quarry LP increased its holdings in Cisco Systems by 222.4% during the 2nd 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. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the 3rd quarter valued at about $40,000. Finally, Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSCO. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Barclays raised their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Jefferies Financial Group decreased their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Evercore ISI raised their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Ten equities 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, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $59.29 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.87. The firm has a market cap of $236.14 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 4.42 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The business has a fifty day moving average of $55.68 and a 200-day moving average of $50.45.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were 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 owns 132,910 shares in the company, 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. Insiders have sold 339,479 shares of company stock worth $19,490,991 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

About Cisco Systems

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.