Creative Planning Purchases 38,000 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Creative Planning boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,155,964 shares of the network equipment provider’s stock after buying an additional 38,000 shares during the period. Creative Planning’s holdings in Cisco Systems were worth $60,979,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Wesbanco Bank Inc. grew its holdings in shares of Cisco Systems by 2.5% in the third quarter. Wesbanco Bank Inc. now owns 394,968 shares of the network equipment provider’s stock valued at $21,020,000 after purchasing an additional 9,547 shares in the last quarter. CX Institutional grew its stake in shares of Cisco Systems by 30.4% in the 3rd quarter. CX Institutional now owns 124,809 shares of the network equipment provider’s stock worth $6,642,000 after buying an additional 29,117 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Cisco Systems by 3.3% in the 3rd quarter. Sivia Capital Partners LLC now owns 8,396 shares of the network equipment provider’s stock worth $447,000 after buying an additional 268 shares during the last quarter. Fiduciary Alliance LLC raised its position in shares of Cisco Systems by 14.8% during the 3rd quarter. Fiduciary Alliance LLC now owns 11,029 shares of the network equipment provider’s stock valued at $587,000 after buying an additional 1,425 shares in the last quarter. Finally, Novare Capital Management LLC lifted its holdings in shares of Cisco Systems by 0.7% in the 3rd quarter. Novare Capital Management LLC now owns 203,339 shares of the network equipment provider’s stock valued at $10,822,000 after acquiring an additional 1,496 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by insiders.

Cisco Systems Stock Up 0.6 %

Shares of NASDAQ CSCO opened at $56.76 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $56.87. The stock’s fifty day simple moving average is $51.17 and its two-hundred day simple moving average is $48.60. The stock has a market capitalization of $228.68 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. 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 (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.82%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler reissued a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.74.

Cisco Systems 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.