Wealth Enhancement Advisory Services LLC Acquires 28,924 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Wealth Enhancement Advisory Services LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 54.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,116 shares of the network equipment provider’s stock after acquiring an additional 28,924 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cisco Systems were worth $3,823,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Neville Rodie & Shaw Inc. grew its stake in Cisco Systems by 6.3% during the second quarter. Neville Rodie & Shaw Inc. now owns 69,516 shares of the network equipment provider’s stock worth $3,805,000 after purchasing an additional 4,100 shares during the period. Bath Savings Trust Co grew its stake in Cisco Systems by 1.7% in the second quarter. Bath Savings Trust Co now owns 21,082 shares of the network equipment provider’s stock valued at $1,153,000 after acquiring an additional 356 shares during the period. Private Trust Co. NA grew its stake in Cisco Systems by 0.4% in the second quarter. Private Trust Co. NA now owns 74,379 shares of the network equipment provider’s stock valued at $4,070,000 after acquiring an additional 315 shares during the period. Baystate Wealth Management LLC grew its stake in Cisco Systems by 2.0% in the second quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock valued at $600,000 after acquiring an additional 202 shares during the period. Finally, Dorsey Wright & Associates grew its stake in Cisco Systems by 557.4% in the second quarter. Dorsey Wright & Associates now owns 40,735 shares of the network equipment provider’s stock valued at $2,229,000 after acquiring an additional 34,539 shares during the period. 73.79% of the stock is owned by hedge funds and other institutional investors.

CSCO has been the subject of a number of research reports. Barclays initiated coverage on Cisco Systems in a research note on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 price objective for the company. UBS Group set a $58.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Thursday, August 15th. Robert W. Baird reissued a “buy” rating and issued a $54.00 price objective on shares of Cisco Systems in a research note on Monday. Cowen reduced their price objective on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Finally, Goldman Sachs Group cut Cisco Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $56.00 to $48.00 in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $55.64.

In related news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.72, for a total transaction of $3,270,400.00. Following the sale, the chief financial officer now directly owns 277,548 shares in the company, valued at $12,967,042.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Chandler sold 10,733 shares of Cisco Systems stock in a transaction on Friday, September 13th. The stock was sold at an average price of $50.05, for a total value of $537,186.65. The disclosure for this sale can be found here. Insiders sold 193,130 shares of company stock worth $9,359,179 in the last 90 days. Corporate insiders own 0.03% of the company’s stock.

Shares of CSCO stock traded up $0.27 during trading hours on Tuesday, reaching $48.37. The company had a trading volume of 15,632,900 shares, compared to its average volume of 20,396,303. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. The business has a fifty day simple moving average of $47.51 and a 200-day simple moving average of $51.96. The company has a market cap of $207.23 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. During the same quarter last year, the company earned $0.70 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.03 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were issued a $0.35 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.89%. Cisco Systems’s dividend payout ratio is presently 49.12%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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