Wesbanco Bank Inc. Acquires 15,744 Shares of Cisco Systems, Inc. (CSCO)

Wesbanco Bank Inc. grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 324,830 shares of the network equipment provider’s stock after purchasing an additional 15,744 shares during the quarter. Wesbanco Bank Inc.’s holdings in Cisco Systems were worth $13,977,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. JJJ Advisors Inc. acquired a new position in Cisco Systems in the 2nd quarter valued at $110,000. Legacy Advisors LLC grew its stake in Cisco Systems by 597.6% in the 2nd quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock valued at $148,000 after buying an additional 2,940 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in Cisco Systems in the 1st quarter valued at $149,000. Cerebellum GP LLC acquired a new position in Cisco Systems in the 2nd quarter valued at $174,000. Finally, Landaas & Co. WI ADV acquired a new position in Cisco Systems in the 2nd quarter valued at $184,000. Institutional investors and hedge funds own 71.52% of the company’s stock.

A number of research firms recently issued reports on CSCO. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Piper Jaffray Companies set a $50.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Tuesday, September 11th. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Royal Bank of Canada raised their target price on shares of Cisco Systems to $52.00 and gave the company an “outperform” rating in a research note on Thursday, August 16th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $56.00 target price on shares of Cisco Systems in a research note on Thursday, August 16th. Eight investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $48.76.

In other news, SVP Irving Tan sold 68,308 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $47.38, for a total transaction of $3,236,433.04. Following the completion of the transaction, the senior vice president now directly owns 150,763 shares of the company’s stock, valued at approximately $7,143,150.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Goeckeler sold 63,050 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $47.57, for a total transaction of $2,999,288.50. Following the transaction, the executive vice president now directly owns 547,019 shares of the company’s stock, valued at $26,021,693.83. The disclosure for this sale can be found here. Insiders have sold a total of 450,620 shares of company stock valued at $21,322,282 over the last ninety days. 0.03% of the stock is owned by insiders.

NASDAQ:CSCO opened at $47.11 on Friday. The stock has a market cap of $230.76 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.83 and a beta of 1.11. Cisco Systems, Inc. has a 52 week low of $33.67 and a 52 week high of $49.47. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.67 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Thursday, October 4th. Cisco Systems’s payout ratio is 56.41%.

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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.

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

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