TruWealth Advisors LLC Invests $10.21 Million in Cisco Systems, Inc. (NASDAQ:CSCO)
TruWealth Advisors LLC purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 189,847 shares of the network equipment provider’s stock, valued at approximately $10,206,000.
Several other hedge funds also recently modified their holdings of CSCO. Fortis Capital Advisors LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth $34,000. Tucker Asset Management LLC bought a new stake in shares of Cisco Systems during the 1st quarter worth $35,000. Spotlight Asset Group Inc. bought a new stake in shares of Cisco Systems during the 2nd quarter worth $41,000. Trivant Custom Portfolio Group LLC bought a new stake in shares of Cisco Systems during the 1st quarter worth $44,000. Finally, VitalStone Financial LLC bought a new stake in shares of Cisco Systems during the 2nd quarter worth $45,000. Institutional investors and hedge funds own 72.21% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, August 21st. Raymond James downgraded shares of Cisco Systems from a “market perform” rating to an “underperform” rating in a report on Monday, October 30th. DZ Bank cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research note on Friday, November 17th. Rosenblatt Securities cut their target price on shares of Cisco Systems from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, November 16th. Finally, StockNews.com initiated coverage on shares of Cisco Systems in a research note on Thursday, October 5th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $58.38.
View Our Latest Report on CSCO
Cisco Systems Stock Up 0.9 %
Shares of NASDAQ:CSCO opened at $49.87 on Friday. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.34 and a current ratio of 1.47. The company’s fifty day moving average is $50.94 and its 200-day moving average is $52.37. The company has a market capitalization of $202.65 billion, a PE ratio of 15.07, a P/E/G ratio of 2.36 and a beta of 0.91.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The company had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts predict that Cisco Systems, Inc. will post 3.4 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Wednesday, January 3rd. Cisco Systems’s dividend payout ratio is currently 47.13%.
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 24,579 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $47.99, for a total value of $1,179,546.21. Following the transaction, the executive vice president now directly owns 210,395 shares in the company, valued at approximately $10,096,856.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark Garrett sold 899 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $47.88, for a total value of $43,044.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 24,579 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $47.99, for a total transaction of $1,179,546.21. Following the completion of the sale, the executive vice president now owns 210,395 shares of the company’s stock, valued at approximately $10,096,856.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,538 shares of company stock worth $1,465,217. 0.02% of the stock is currently owned by corporate insiders.
Cisco Systems Profile (Free Report)
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.
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