Hohimer Wealth Management LLC Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Hohimer Wealth Management LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 24.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 104,481 shares of the network equipment provider's stock after buying an additional 20,679 shares during the quarter. Cisco Systems accounts for approximately 1.2% of Hohimer Wealth Management LLC's holdings, making the stock its 14th largest holding. Hohimer Wealth Management LLC's holdings in Cisco Systems were worth $5,560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Aviso Wealth Management boosted its holdings in Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock valued at $405,000 after acquiring an additional 181 shares during the period. Waypoint Capital Advisors LLC lifted its position in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock valued at $346,000 after purchasing an additional 182 shares during the last quarter. Andina Capital Management LLC boosted its stake in shares of Cisco Systems by 3.6% during the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock valued at $279,000 after purchasing an additional 182 shares during the period. Wealth Dimensions Group Ltd. increased its stake in shares of Cisco Systems by 1.6% in the third quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider's stock worth $605,000 after buying an additional 182 shares during the period. Finally, Meridian Financial Partners LLC raised its holdings in Cisco Systems by 3.8% during the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider's stock valued at $267,000 after buying an additional 185 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Down 0.2 %

Shares of NASDAQ CSCO traded down $0.13 on Wednesday, reaching $58.59. 26,830,533 shares of the company's stock traded hands, compared to its average volume of 19,100,408. The business's 50 day simple moving average is $56.77 and its two-hundred day simple moving average is $51.14. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23. The company has a market cap of $233.35 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 4.39 and a beta of 0.85. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter last year, the company earned $0.98 EPS. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, January 3rd. Cisco Systems's payout ratio is 68.67%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. UBS Group raised their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Barclays upped their price target on Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Finally, Citigroup boosted their target price on Cisco Systems from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.94.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 351,860 shares of company stock valued at $20,231,558. 0.01% of the stock is owned by insiders.

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.