Fishman Jay A Ltd. MI Acquires 5,450 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Fishman Jay A Ltd. MI increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 249,342 shares of the network equipment provider’s stock after purchasing an additional 5,450 shares during the quarter. Cisco Systems makes up 2.3% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 15th biggest holding. Fishman Jay A Ltd. MI’s holdings in Cisco Systems were worth $12,320,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Evolution Wealth Advisors LLC bought a new position in shares of Cisco Systems during the 2nd quarter worth about $33,000. Lowe Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth about $38,000. Personal Wealth Partners acquired a new stake in shares of Cisco Systems in the 2nd quarter worth about $44,000. Ashburton Jersey Ltd acquired a new stake in shares of Cisco Systems in the 2nd quarter worth about $49,000. Finally, Cordasco Financial Network raised its holdings in shares of Cisco Systems by 78.4% in the 3rd quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock worth $56,000 after acquiring an additional 502 shares during the last quarter. 73.27% of the stock is currently owned by institutional investors.

In other Cisco Systems news, SVP Irving Tan sold 22,896 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $1,131,520.32. Following the transaction, the senior vice president now owns 154,819 shares in the company, valued at $7,651,154.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. Insiders sold 193,130 shares of company stock worth $9,359,179 in the last 90 days. Corporate insiders own 0.03% of the company’s stock.

Shares of Cisco Systems stock traded up $0.41 on Friday, reaching $48.83. 14,406,400 shares of the company traded hands, compared to its average volume of 20,421,934. The company has a 50 day moving average of $47.56 and a 200 day moving average of $52.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. The firm has a market capitalization of $202.69 billion, a PE ratio of 17.13, a PEG ratio of 2.30 and a beta of 1.28. Cisco Systems, Inc. has a 52 week low of $40.25 and a 52 week high of $58.26.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 3.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, October 3rd. Cisco Systems’s payout ratio is 49.12%.

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Cisco Systems from $64.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Evercore ISI started coverage on shares of Cisco Systems in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $60.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Nomura increased their price objective on shares of Cisco Systems from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, UBS Group set a $58.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and an average price target of $55.92.

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 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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