Portside Wealth Group LLC Purchases 8,967 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Portside Wealth Group LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 11.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,637 shares of the network equipment provider's stock after acquiring an additional 8,967 shares during the quarter. Cisco Systems comprises about 0.8% of Portside Wealth Group LLC's holdings, making the stock its 27th biggest holding. Portside Wealth Group LLC's holdings in Cisco Systems were worth $4,771,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CSCO. Summit Securities Group LLC purchased a new position in shares of Cisco Systems during the second quarter worth approximately $25,000. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Quarry LP increased its position in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after purchasing an additional 456 shares during the period. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter valued at $36,000. Finally, Iron Horse Wealth Management LLC increased its position in Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock valued at $42,000 after purchasing an additional 766 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company's stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares in the company, valued at approximately $14,659,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSCO. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Barclays decreased their price target on shares of Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Hsbc Global Res upgraded shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, August 16th. Finally, New Street Research upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $56.74.

Cisco Systems Stock Performance

Shares of CSCO traded down $0.02 on Friday, reaching $58.06. The company's stock had a trading volume of 17,510,598 shares, compared to its average volume of 18,973,309. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The stock has a market capitalization of $231.70 billion, a P/E ratio of 22.86, a PEG ratio of 4.63 and a beta of 0.83. The stock's 50 day simple moving average is $53.30 and its two-hundred day simple moving average is $49.40. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.30.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm's revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems's dividend payout ratio is currently 62.99%.

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 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.