Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,156 shares of the network equipment provider’s stock after acquiring an additional 1,193 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Cisco Systems were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC boosted its stake in shares of Cisco Systems by 586.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 127,776 shares of the network equipment provider’s stock worth $6,869,000 after purchasing an additional 109,164 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Cisco Systems during the 3rd quarter worth about $484,000. Legacy Advisors LLC boosted its stake in shares of Cisco Systems by 57.0% during the 3rd quarter. Legacy Advisors LLC now owns 17,299 shares of the network equipment provider’s stock worth $930,000 after purchasing an additional 6,283 shares during the last quarter. Lakeshore Financial Planning Inc. acquired a new stake in shares of Cisco Systems during the 3rd quarter worth about $206,000. Finally, KPP Advisory Services LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter worth about $990,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSCO has been the topic of several analyst reports. Oppenheimer raised their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley began coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Trading Down 0.4 %

CSCO opened at $47.09 on Thursday. The firm has a market capitalization of $189.72 billion, a P/E ratio of 15.86, a P/E/G ratio of 2.75 and a beta of 0.85. The firm’s 50 day moving average is $47.03 and its 200-day moving average is $48.75. Cisco Systems, Inc. has a 52-week low of $44.95 and a 52-week high of $58.19. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. Analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity

In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 over the last 90 days. Company insiders own 0.02% of the company’s stock.

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.