Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Essex Financial Services Inc.

Essex Financial Services Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 94,464 shares of the network equipment provider’s stock after acquiring an additional 4,122 shares during the period. Essex Financial Services Inc.’s holdings in Cisco Systems were worth $3,177,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Opes Advisors Inc boosted its holdings in shares of Cisco Systems by 0.6% during the 2nd quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock worth $236,000 after purchasing an additional 44 shares during the last quarter. Leisure Capital Management boosted its holdings in shares of Cisco Systems by 0.6% during the 2nd quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock worth $233,000 after purchasing an additional 48 shares during the last quarter. Ronald Blue & Co. LLC boosted its holdings in shares of Cisco Systems by 0.3% during the 2nd quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock worth $561,000 after purchasing an additional 57 shares during the last quarter. Banced Corp boosted its holdings in shares of Cisco Systems by 0.4% during the 2nd quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock worth $442,000 after purchasing an additional 59 shares during the last quarter. Finally, GM Advisory Group Inc. boosted its holdings in shares of Cisco Systems by 0.3% during the 2nd quarter. GM Advisory Group Inc. now owns 19,548 shares of the network equipment provider’s stock worth $612,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 75.42% of the company’s stock.

In other news, CAO Prat Bhatt sold 2,606 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $95,092.94. Following the completion of the sale, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at $3,254,324.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Karen Walker sold 5,786 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the completion of the sale, the senior vice president now directly owns 176,418 shares of the company’s stock, valued at $6,437,492.82. The disclosure for this sale can be found here. Insiders sold 348,643 shares of company stock valued at $12,892,271 in the last 90 days. 0.05% of the stock is currently owned by insiders.

Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up $0.63 during mid-day trading on Tuesday, hitting $41.23. 29,388,221 shares of the company were exchanged, compared to its average volume of 28,120,000. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a 12-month low of $30.36 and a 12-month high of $42.98. The firm has a market capitalization of $203,830.00, a P/E ratio of 21.36, a P/E/G ratio of 3.55 and a beta of 1.23.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Cisco Systems’s revenue for the quarter was down 1.7% on a year-over-year basis. equities analysts expect that Cisco Systems, Inc. will post 2.23 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.16 annualized dividend and a yield of 2.81%. Cisco Systems’s dividend payout ratio is presently 60.10%.

Several research analysts have recently weighed in on CSCO shares. Citigroup restated a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a report on Thursday, November 16th. They noted that the move was a valuation call. Oppenheimer reaffirmed a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research report on Friday, October 20th. Royal Bank of Canada reaffirmed a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research report on Wednesday, November 15th. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 price target on the stock in a research report on Monday, November 13th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $38.00 price target on shares of Cisco Systems in a research report on Friday, November 10th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.38.

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Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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