Ballentine Partners LLC Has $3.88 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Ballentine Partners LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 72,908 shares of the network equipment provider’s stock after acquiring an additional 4,974 shares during the period. Ballentine Partners LLC’s holdings in Cisco Systems were worth $3,880,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Heritage Oak Wealth Advisors LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at $205,000. Cross Staff Investments Inc raised its holdings in Cisco Systems by 1.6% during the third quarter. Cross Staff Investments Inc now owns 13,033 shares of the network equipment provider’s stock worth $694,000 after buying an additional 209 shares during the last quarter. Bull Oak Capital LLC bought a new position in shares of Cisco Systems in the third quarter valued at $81,000. Nicholson Wealth Management Group LLC acquired a new position in shares of Cisco Systems during the third quarter valued at about $780,000. Finally, Legacy Capital Group California Inc. increased its position in shares of Cisco Systems by 5.4% during the third quarter. Legacy Capital Group California Inc. now owns 21,260 shares of the network equipment provider’s stock worth $1,131,000 after acquiring an additional 1,081 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of several recent research reports. Evercore ISI raised their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Barclays cut their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and an average target price of $56.74.

Cisco Systems Stock Down 0.6 %

Shares of NASDAQ CSCO opened at $55.96 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The stock has a market capitalization of $225.45 billion, a PE ratio of 18.84, a P/E/G ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.06. The business’s fifty day moving average price is $51.85 and its 200-day moving average price is $48.77.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $1.01 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Maria Victoria Wong sold 638 shares of the business’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 transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% 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.