Patton Albertson Miller Group LLC Acquires 3,687 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Patton Albertson Miller Group LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 170,379 shares of the network equipment provider’s stock after acquiring an additional 3,687 shares during the quarter. Cisco Systems makes up 1.2% of Patton Albertson Miller Group LLC’s portfolio, making the stock its 18th biggest holding. Patton Albertson Miller Group LLC’s holdings in Cisco Systems were worth $9,068,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in Cisco Systems in the second quarter valued at about $25,000. West Financial Advisors LLC lifted its holdings in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Quarry LP increased its position in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Cisco Systems in the second quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC increased its position in Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 6.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 342,858 shares of company stock valued at $19,661,157 in the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock opened at $58.74 on Tuesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a market capitalization of $233.95 billion, a P/E ratio of 25.21, a P/E/G ratio of 4.37 and a beta of 0.83. The stock has a 50 day moving average price of $55.17 and a 200 day moving average price of $50.24.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Analysts Set New Price Targets

A number of brokerages have commented on CSCO. Jefferies Financial Group reduced their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Bank of America upped their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Barclays increased their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Piper Sandler increased their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

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 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.