Wallace Advisory Group LLC buys 2,521 shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wallace Advisory Group LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 13.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 21,651 shares of the network equipment provider’s stock after purchasing an additional 2,521 shares during the period. Wallace Advisory Group LLC’s holdings in Cisco Systems were worth $1,029,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in Cisco Systems in the second quarter valued at about $25,000. Retirement Group LLC raised its stake in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares during the period. Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the second quarter valued at $36,000. Redmont Wealth Advisors LLC bought a new position in Cisco Systems in the first quarter worth $41,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $44,000. Institutional investors own 73.33% of the company’s shares.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $53.02 on Monday. The company’s 50-day moving average price is $49.01, and its two-hundred-day moving average price is $48.14. The firm has a market cap of $213.61 billion, a P/E ratio of 17.85, a P/E/G ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. it has a fifty-two week low of $44.50 and a fifty-two week high of $54.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91, and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO – Get Free Report ) last announced its quarterly earnings results on Wednesday, August 14th. The networking equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during 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%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS. On average, equities analysts estimate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents an annualized dividend of $1.60 and a dividend yield of 3.02%. The ex-dividend date is Wednesday, October 2. Cisco Systems’s dividend payout ratio is currently 53.87%.

The Wall Street analyst weighs in

Several analysts have weighed in on CSCO shares. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Evercore ISI boosted their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Barclays dropped their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Cisco Systems has an average rating of “Hold” and a consensus price target of $55.00, based on data from MarketBeat.com.

Check out our latest report on Cisco Systems

Insider activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on 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 in the company, valued at $33,794,278.35. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last quarter. 0.02% of shares are owned by insiders.

About Cisco Systems

(Free Report)

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol-based networks and other products related to the communications and information technology industries in the Americas, Europe, the Middle East, Africa, Asia Pacific, Japan, and China. The company also offers a switching portfolio that includes campus switching as well as data center switching; the enterprise routing portfolio interconnects public and private mobile and mobile networks, providing highly secure and reliable connectivity to campus, data center and branch office networks; wireless products include access points and wireless controllers; and the compute portfolio, including Cisco Unified Computing System, hyperflex, and software management capabilities, which combine the management and virtualization of compute, networking, and storage infrastructure.

Featured stories

Get news and reviews for Cisco Systems Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Cisco Systems and related companies with MarketBeat.com ‘s FREE daily email newsletter.