Seven Mile Advisory Buys 326 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Seven Mile Advisory raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,265 shares of the network equipment provider’s stock after purchasing an additional 326 shares during the quarter. Seven Mile Advisory’s holdings in Cisco Systems were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of CSCO. Goldman Sachs Group Inc. raised its stake in shares of Cisco Systems by 37.4% during the first quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider’s stock worth $2,898,722,000 after acquiring an additional 12,775,066 shares in the last quarter. Nuveen LLC purchased a new position in shares of Cisco Systems during the first quarter worth approximately $750,495,000. Pacer Advisors Inc. raised its stake in shares of Cisco Systems by 1,144.2% during the first quarter. Pacer Advisors Inc. now owns 8,120,886 shares of the network equipment provider’s stock worth $501,140,000 after acquiring an additional 7,468,212 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $413,491,000. Finally, GAMMA Investing LLC raised its stake in shares of Cisco Systems by 7,096.5% during the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after acquiring an additional 6,625,045 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the sale, the executive vice president owned 174,669 shares in the company, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,731 shares of company stock worth $5,021,519. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Wolfe Research assumed coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They set a “peer perform” rating on the stock. Evercore ISI lifted their price target on shares of Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a research note on Thursday. UBS Group lifted their price target on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Finally, William Blair raised shares of Cisco Systems to a “hold” rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $74.53.

Cisco Systems Stock Down 4.5%

Shares of Cisco Systems stock opened at $66.20 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $67.98 and its two-hundred day simple moving average is $63.36. The company has a market cap of $262.15 billion, a P/E ratio of 25.27, a PEG ratio of 3.67 and a beta of 0.91. Cisco Systems, Inc. has a 12-month low of $47.85 and a 12-month high of $72.55.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems’s payout ratio is presently 62.60%.

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.