Providence Capital Advisors LLC Purchases 10,817 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Providence Capital Advisors LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 173,685 shares of the network equipment provider’s stock after purchasing an additional 10,817 shares during the period. Cisco Systems makes up 1.8% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Providence Capital Advisors LLC’s holdings in Cisco Systems were worth $8,252,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of Cisco Systems during the second quarter valued at about $25,000. Retirement Group LLC raised its holdings in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter valued at about $36,000. Redmont Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the first quarter valued at about $41,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Cisco Systems in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CSCO shares. Rosenblatt Securities upped their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group lowered their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $55.00.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction that occurred 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 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 0.4 %

Cisco Systems stock opened at $52.19 on Tuesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $54.58. The firm has a 50 day moving average price of $48.61 and a 200-day moving average price of $48.06. The company has a market capitalization of $210.26 billion, a P/E ratio of 17.57, a P/E/G ratio of 3.87 and a beta of 0.83. 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 (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.07%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

About Cisco Systems

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.