Seaside Wealth Management Inc. Takes $215,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Seaside Wealth Management Inc. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,034 shares of the network equipment provider’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Cisco Systems by 16.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,288,768 shares of the network equipment provider’s stock worth $64,322,000 after acquiring an additional 177,588 shares in the last quarter. Kovack Advisors Inc. boosted its stake in shares of Cisco Systems by 15.7% during the first quarter. Kovack Advisors Inc. now owns 26,827 shares of the network equipment provider’s stock worth $1,339,000 after buying an additional 3,638 shares during the period. Cornerstone Wealth Management LLC grew its stake in shares of Cisco Systems by 2.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 38,053 shares of the network equipment provider’s stock valued at $1,899,000 after purchasing an additional 889 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Cisco Systems by 226.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock worth $1,319,000 after buying an additional 18,339 shares during the last quarter. Finally, Diversify Advisory Services LLC purchased a new stake in Cisco Systems in the 1st quarter valued at approximately $5,064,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Barclays dropped their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Tigress Financial upped their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $56.74.

Cisco Systems Stock Performance

CSCO opened at $55.59 on Thursday. The firm has a market capitalization of $221.84 billion, a PE ratio of 21.89, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.06. The business’s 50-day simple moving average is $52.44 and its 200 day simple moving average is $49.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 62.99%.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s 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 sale, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now 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. In the last 90 days, insiders sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.01% of the company’s stock.

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.