Gimbal Financial Buys New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Gimbal Financial bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,151 shares of the network equipment provider’s stock, valued at approximately $462,000. Cisco Systems makes up about 0.5% of Gimbal Financial’s holdings, making the stock its 22nd largest holding.

A number of other institutional investors have also made changes to their positions in the stock. Cassia Capital Partners LLC boosted its position in shares of Cisco Systems by 1.4% in the 3rd quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock worth $750,000 after buying an additional 191 shares in the last quarter. Waddell & Associates LLC increased its position in Cisco Systems by 0.8% during the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock worth $1,328,000 after purchasing an additional 191 shares in the last quarter. Sax Wealth Advisors LLC increased its position in Cisco Systems by 3.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock worth $306,000 after purchasing an additional 196 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its position in Cisco Systems by 3.8% in the third quarter. Onyx Bridge Wealth Group LLC now owns 5,385 shares of the network equipment provider’s stock valued at $290,000 after acquiring an additional 197 shares in the last quarter. Finally, Winch Advisory Services LLC grew its position in Cisco Systems by 19.3% in the third quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock valued at $66,000 after acquiring an additional 199 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CSCO shares. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. JPMorgan Chase & Co. started coverage on Cisco Systems in a report on Monday. They set a “neutral” rating and a $53.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Citigroup started coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective on the stock. Finally, Barclays lifted their price target on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.53.

Cisco Systems Stock Down 0.4 %

Shares of CSCO traded down $0.18 during trading on Monday, reaching $48.14. The company’s stock had a trading volume of 19,900,906 shares, compared to its average volume of 19,517,375. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19. The company has a market cap of $194.93 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.77 and a beta of 0.87. The company has a fifty day moving average of $49.07 and a two-hundred day moving average of $50.20. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is 48.63%.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 in the last quarter. Company insiders own 0.02% of the company’s stock.

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.