Greater Midwest Financial Group LLC Buys Shares of 4,379 Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Cerbat Gem

Greater Midwest Financial Group LLC purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,379 shares of the network equipment provider’s stock, valued at approximately $233,000.

Other large investors also recently modified their holdings of the company. Naviter Wealth LLC grew its holdings in Cisco Systems by 4.0% during the third quarter. Naviter Wealth LLC now owns 38,997 shares of the network equipment provider’s stock valued at $2,075,000 after purchasing an additional 1,511 shares during the period. Probity Advisors Inc. lifted its position in shares of Cisco Systems by 2.9% during the 3rd quarter. Probity Advisors Inc. now owns 34,228 shares of the network equipment provider’s stock valued at $1,822,000 after buying an additional 972 shares in the last quarter. ZWJ Investment Counsel Inc. grew its stake in shares of Cisco Systems by 2.2% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 900,866 shares of the network equipment provider’s stock valued at $47,944,000 after acquiring an additional 19,270 shares during the period. Kowal Investment Group LLC increased its holdings in Cisco Systems by 1.0% in the 3rd quarter. Kowal Investment Group LLC now owns 24,135 shares of the network equipment provider’s stock worth $1,284,000 after acquiring an additional 245 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in Cisco Systems by 15.0% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 42,910 shares of the network equipment provider’s stock worth $2,284,000 after buying an additional 5,603 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.2 %

CSCO traded down $0.11 during trading on Thursday, reaching $56.27. The company had a trading volume of 2,533,489 shares, compared to its average volume of 19,105,811. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $56.49. The stock has a market cap of $226.70 billion, a P/E ratio of 18.98, a PEG ratio of 4.22 and a beta of 0.83. The business has a 50 day simple moving average of $50.73 and a 200-day simple moving average of $48.50.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSCO. Tigress Financial lifted their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday. Barclays reduced 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 research report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $56.74.

Read Our Latest Stock Report on Cisco Systems

Insider Activity at Cisco Systems

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 shares were 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 of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last three months. 0.02% of the stock is owned by corporate insiders.

About Cisco Systems

(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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