13,325 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by Concord Asset Management LLC VA

Concord Asset Management LLC VA bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 13,325 shares of the network equipment provider’s stock, valued at approximately $822,000.

A number of other large investors also recently added to or reduced their stakes in CSCO. Navigoe LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at about $26,000. JDM Financial Group LLC increased its position in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares during the period. Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems during the fourth quarter valued at about $30,000. Finally, Fairway Wealth LLC increased its position in shares of Cisco Systems by 224.7% during the first quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CSCO shares. Evercore ISI boosted their price target on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. New Street Research reissued a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wall Street Zen lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, CICC Research assumed coverage on shares of Cisco Systems in a research note on Monday. They set an “outperform” rating and a $78.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus price target of $69.95.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares of the company’s stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the transaction, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 0.2%

Shares of CSCO opened at $67.82 on Tuesday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $69.78. The company has a 50-day moving average of $65.19 and a 200 day moving average of $61.89. The firm has a market capitalization of $268.57 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 4.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter last year, the business posted $0.88 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.42%. Cisco Systems’s dividend payout ratio is currently 66.94%.

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.