Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,368 shares of the network equipment provider’s stock after purchasing an additional 508 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Cisco Systems were worth $1,110,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CSCO. Summit Securities Group LLC acquired a new stake in Cisco Systems in the second quarter valued at approximately $25,000. Retirement Group LLC raised its holdings 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 acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems in the second quarter valued at approximately $36,000. Redmont Wealth Advisors LLC acquired a new stake in Cisco Systems during the first quarter worth approximately $41,000. Finally, Iron Horse Wealth Management LLC raised its stake in Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after acquiring an additional 766 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’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 completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at $8,181,307.80. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last ninety days. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $52.19 on Tuesday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $54.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The company has a 50 day moving average price of $48.61 and a 200 day moving average price of $48.06. The firm has a market capitalization of $210.26 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results 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. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.07%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CSCO. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Barclays cut their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group dropped their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.