Zuckerman Investment Group LLC Takes $466,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Zuckerman Investment Group LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,661 shares of the network equipment provider’s stock, valued at approximately $466,000.

Other large investors have also recently bought and sold shares of the company. Syverson Strege & Co raised its position in shares of Cisco Systems by 68.9% during the 2nd quarter. Syverson Strege & Co now owns 591 shares of the network equipment provider’s stock worth $25,000 after acquiring an additional 241 shares in the last quarter. Iron Horse Wealth Management LLC increased its stake in Cisco Systems by 328.1% in the second quarter. Iron Horse Wealth Management LLC now owns 655 shares of the network equipment provider’s stock valued at $28,000 after purchasing an additional 502 shares during the last quarter. Steward Financial Group LLC raised its holdings in Cisco Systems by 49.5% during the second quarter. Steward Financial Group LLC now owns 788 shares of the network equipment provider’s stock worth $33,000 after purchasing an additional 261 shares in the last quarter. Moisand Fitzgerald Tamayo LLC lifted its position in shares of Cisco Systems by 161.3% during the 2nd quarter. Moisand Fitzgerald Tamayo LLC now owns 810 shares of the network equipment provider’s stock worth $35,000 after buying an additional 500 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its holdings in shares of Cisco Systems by 164.0% in the 2nd quarter. Beaird Harris Wealth Management LLC now owns 813 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 505 shares in the last quarter. Hedge funds and other institutional investors own 71.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CSCO. StockNews.com raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 23rd. Bank of America reissued a “buy” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft dropped their price target on Cisco Systems from $54.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, November 18th. Morgan Stanley boosted their price objective on Cisco Systems from $48.00 to $52.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 13th. Finally, Credit Suisse Group raised their target price on shares of Cisco Systems from $65.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, November 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.95.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.11 on Wednesday, reaching $47.70. 3,311,788 shares of the stock were exchanged, compared to its average volume of 15,827,986. The company has a current ratio of 1.45, a quick ratio of 1.34 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $195.99 billion, a PE ratio of 17.26, a PEG ratio of 2.31 and a beta of 0.99. Cisco Systems, Inc. has a 1-year low of $38.60 and a 1-year high of $57.69. The business has a fifty day moving average price of $48.07 and a two-hundred day moving average price of $45.41.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its earnings results on Wednesday, November 16th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. The company had revenue of $13.63 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Cisco Systems had a return on equity of 31.68% and a net margin of 22.00%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Thursday, January 5th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.52 annualized dividend and a dividend yield of 3.19%. Cisco Systems’s payout ratio is currently 54.87%.

Insider Transactions at Cisco Systems

In related news, EVP Jeffery S. Sharritts sold 637 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $50.08, for a total value of $31,900.96. Following the completion of the sale, the executive vice president now owns 276,589 shares in the company, valued at $13,851,577.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, EVP Jeffery S. Sharritts sold 637 shares of the stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $50.08, for a total value of $31,900.96. Following the completion of the transaction, the executive vice president now directly owns 276,589 shares of the company’s stock, valued at $13,851,577.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 115,868 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $48.64, for a total value of $5,635,819.52. Following the sale, the chief executive officer now directly owns 827,722 shares in the company, valued at approximately $40,260,398.08. The disclosure for this sale can be found here. Insiders have sold a total of 243,098 shares of company stock valued at $11,939,277 in the last ninety days. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Profile

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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; 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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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