Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by BayBridge Capital Group LLC

BayBridge Capital Group LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,792 shares of the network equipment provider’s stock after acquiring an additional 557 shares during the period. BayBridge Capital Group LLC’s holdings in Cisco Systems were worth $521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brookstone Capital Management raised its position in shares of Cisco Systems by 9.4% in the first quarter. Brookstone Capital Management now owns 55,083 shares of the network equipment provider’s stock valued at $2,749,000 after buying an additional 4,712 shares during the last quarter. OneAscent Wealth Management LLC raised its holdings in Cisco Systems by 9.3% in the 1st quarter. OneAscent Wealth Management LLC now owns 4,370 shares of the network equipment provider’s stock valued at $218,000 after acquiring an additional 371 shares during the last quarter. Independence Bank of Kentucky lifted its stake in shares of Cisco Systems by 10.1% during the 1st quarter. Independence Bank of Kentucky now owns 12,537 shares of the network equipment provider’s stock worth $626,000 after purchasing an additional 1,150 shares during the period. Griffin Asset Management Inc. boosted its holdings in shares of Cisco Systems by 3.9% during the first quarter. Griffin Asset Management Inc. now owns 8,348 shares of the network equipment provider’s stock worth $417,000 after purchasing an additional 313 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC grew its position in shares of Cisco Systems by 0.3% in the first quarter. Alpha Omega Wealth Management LLC now owns 172,998 shares of the network equipment provider’s stock valued at $8,634,000 after purchasing an additional 530 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CSCO shares. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Tigress Financial increased their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.74.

Insider Activity

In related news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’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 sale, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by insiders.

Cisco Systems Trading Down 0.4 %

NASDAQ CSCO opened at $55.74 on Friday. The stock has a market cap of $224.57 billion, a P/E ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83. The company’s fifty day simple moving average is $52.12 and its 200-day simple moving average is $48.87. The company has a current ratio of 0.91, a quick ratio of 0.83 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 $57.06.

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

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Cisco Systems Company 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.