186,204 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Purchased by Usca Ria LLC

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Usca Ria LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 186,204 shares of the network equipment provider’s stock, valued at approximately $10,191,000. Cisco Systems comprises approximately 2.9% of Usca Ria LLC’s holdings, making the stock its 7th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Evolution Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the second quarter worth about $33,000. Lowe Wealth Advisors LLC purchased a new position in shares of Cisco Systems in the second quarter worth about $38,000. Personal Wealth Partners purchased a new position in shares of Cisco Systems in the second quarter worth about $44,000. Ashburton Jersey Ltd purchased a new position in shares of Cisco Systems in the second quarter worth about $49,000. Finally, Lucia Wealth Services LLC increased its stake in shares of Cisco Systems by 72.3% in the second quarter. Lucia Wealth Services LLC now owns 1,144 shares of the network equipment provider’s stock worth $63,000 after purchasing an additional 480 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

In related news, Director Wesley G. Bush bought 10,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was acquired at an average cost of $55.74 per share, for a total transaction of $557,400.00. Following the completion of the transaction, the director now directly owns 3,017 shares in the company, valued at approximately $168,167.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the sale, the chief financial officer now owns 349,122 shares of the company’s stock, valued at $18,698,974.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,925 shares of company stock valued at $4,976,706. 0.03% of the stock is currently owned by company insiders.

CSCO has been the subject of several recent research reports. MKM Partners reduced their target price on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Cowen reduced their target price on shares of Cisco Systems from $65.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Royal Bank of Canada reduced their target price on shares of Cisco Systems from $64.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Morgan Stanley reduced their target price on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. set a $62.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $56.59.

Shares of Cisco Systems stock opened at $47.91 on Friday. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $58.26. The firm has a market cap of $205.18 billion, a PE ratio of 16.81, a PEG ratio of 2.23 and a beta of 1.18. 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 company has a 50 day simple moving average of $54.34 and a two-hundred day simple moving average of $53.77.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The business had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same period in the previous year, the business posted $0.70 earnings per share. Cisco Systems’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.06 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a yield of 2.92%. Cisco Systems’s payout ratio is presently 49.12%.

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 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.

Read More: How Do You Calculate Return on Equity (ROE)?

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

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