Heritage Way Advisors LLC Has $1.87 Million Stake in Cisco Systems, Inc. (CSCO)

Heritage Way Advisors LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,700 shares of the network equipment provider’s stock after buying an additional 5,975 shares during the period. Heritage Way Advisors LLC’s holdings in Cisco Systems were worth $1,869,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. American Trust Investment Advisors LLC raised its position in Cisco Systems by 7.7% in the fourth quarter. American Trust Investment Advisors LLC now owns 126,149 shares of the network equipment provider’s stock worth $3,812,000 after buying an additional 9,037 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. bought a new position in Cisco Systems during the fourth quarter worth approximately $1,358,000. Envestnet Asset Management Inc. raised its position in Cisco Systems by 1.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,709,988 shares of the network equipment provider’s stock worth $51,676,000 after buying an additional 31,375 shares in the last quarter. Barrington Strategic Wealth Management Group LLC raised its position in Cisco Systems by 0.8% in the fourth quarter. Barrington Strategic Wealth Management Group LLC now owns 24,070 shares of the network equipment provider’s stock worth $727,000 after buying an additional 180 shares in the last quarter. Finally, Intact Investment Management Inc. increased its stake in shares of Cisco Systems by 71.0% in the fourth quarter. Intact Investment Management Inc. now owns 44,300 shares of the network equipment provider’s stock worth $1,340,000 after buying an additional 18,400 shares during the last quarter. 75.28% of the stock is currently owned by institutional investors.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded down 2.16% during trading on Friday, reaching $30.37. The company’s stock had a trading volume of 34,802,193 shares. The company has a market cap of $151.64 billion, a PE ratio of 15.98 and a beta of 1.24. The company has a 50 day moving average of $31.48 and a 200 day moving average of $32.55. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. Cisco Systems’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. On average, analysts anticipate that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a $0.29 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.82%. Cisco Systems’s payout ratio is 60.73%.

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A number of equities research analysts have weighed in on CSCO shares. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Morgan Stanley upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $33.45 to $39.00 in a report on Monday, May 15th. Credit Suisse Group upgraded Cisco Systems from an “underperform” rating to an “outperform” rating and lifted their target price for the stock from $27.00 to $40.00 in a report on Thursday, April 27th. Barclays PLC reiterated an “overweight” rating on shares of Cisco Systems in a report on Saturday, April 22nd. Finally, William Blair reiterated an “outperform” rating on shares of Cisco Systems in a report on Monday, July 3rd. Fourteen research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $35.46.

In other news, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the transaction, the senior vice president now owns 178,577 shares in the company, valued at $5,587,674.33. The disclosure for this sale can be found here. Insiders sold 396,179 shares of company stock worth $12,503,407 over the last 90 days. Company insiders own 0.11% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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