Sax Wealth Advisors LLC Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Sax Wealth Advisors LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,490 shares of the network equipment provider’s stock after buying an additional 394 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Cisco Systems were worth $284,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in shares of Cisco Systems in the 1st quarter valued at about $32,000. Tucker Asset Management LLC purchased a new position in shares of Cisco Systems in the 1st quarter valued at about $35,000. Fortis Capital Advisors LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at about $34,000. Nordwand Advisors LLC acquired a new stake in Cisco Systems in the 1st quarter valued at about $40,000. Finally, Spotlight Asset Group Inc. acquired a new stake in Cisco Systems in the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Cisco Systems Price Performance

CSCO stock traded up $0.03 during trading on Monday, hitting $47.79. The company had a trading volume of 9,458,112 shares, compared to its average volume of 18,376,381. The firm has a market capitalization of $193.78 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 2.37 and a beta of 0.98. The business has a 50 day moving average of $53.38 and a 200 day moving average of $52.32. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.20. The business had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 23.40% and a return on equity of 34.92%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. As a group, research analysts predict that Cisco Systems, Inc. will post 3.57 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, January 3rd. Cisco Systems’s payout ratio is 47.13%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,022 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total transaction of $169,896.84. Following the completion of the sale, the executive vice president now directly owns 169,396 shares of the company’s stock, valued at $9,523,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CSCO shares. StockNews.com started coverage on shares of Cisco Systems in a research note on Thursday, October 5th. They set a “buy” rating on the stock. DZ Bank cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Friday. UBS Group reduced their price target on shares of Cisco Systems from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday. Oppenheimer reduced their price target on shares of Cisco Systems from $58.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Citigroup boosted their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.38.

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.