Signet Investment Advisory Group Inc. Buys 638 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Signet Investment Advisory Group Inc. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 77,620 shares of the network equipment provider’s stock after acquiring an additional 638 shares during the period. Cisco Systems makes up 2.3% of Signet Investment Advisory Group Inc.’s investment portfolio, making the stock its 12th biggest position. Signet Investment Advisory Group Inc.’s holdings in Cisco Systems were worth $4,595,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems in the third quarter worth $40,000. Decker Retirement Planning Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at about $49,000. Capital Performance Advisors LLP bought a new position in shares of Cisco Systems during the third quarter valued at about $51,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Cisco Systems in the 3rd quarter valued at about $56,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CSCO. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Bank of America raised their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company upped their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Barclays increased their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, UBS Group boosted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

Insider Activity

In other news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 353,522 shares of company stock worth $20,349,721. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.6 %

CSCO stock opened at $62.43 on Wednesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $63.25. The company has a market capitalization of $248.64 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. The business’s 50 day moving average price is $59.78 and its two-hundred day moving average price is $55.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

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 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.