Hurlow Wealth Management Group Inc. Acquires New Position in Cisco Systems, Inc. (CSCO)

Hurlow Wealth Management Group Inc. bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 12,340 shares of the network equipment provider’s stock, valued at approximately $565,000.

Other large investors have also made changes to their positions in the company. Horan Securities Inc. increased its stake in shares of Cisco Systems by 663.0% in the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock valued at $33,000 after buying an additional 663 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter valued at $49,000. Highwater Wealth Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at $51,000. Acropolis Investment Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at $101,000. Finally, Hanseatic Management Services Inc. increased its stake in shares of Cisco Systems by 74.6% in the fourth quarter. Hanseatic Management Services Inc. now owns 2,654 shares of the network equipment provider’s stock valued at $115,000 after buying an additional 1,134 shares in the last quarter. Institutional investors own 69.04% of the company’s stock.

A number of brokerages have recently weighed in on CSCO. Credit Suisse Group restated a “neutral” rating and issued a $52.00 target price (up from $47.00) on shares of Cisco Systems in a research note on Thursday. Morgan Stanley raised their price target on Cisco Systems from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a report on Thursday. Piper Jaffray Companies raised their price target on Cisco Systems from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Bank of America set a $62.00 price target on Cisco Systems and gave the company a “buy” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus target price of $55.52.

In other Cisco Systems news, EVP David Goeckeler sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the transaction, the executive vice president now owns 419,439 shares of the company’s stock, valued at approximately $21,840,188.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roderick C. Mcgeary sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $49.66, for a total value of $744,900.00. Following the transaction, the director now directly owns 102,898 shares in the company, valued at approximately $5,109,914.68. The disclosure for this sale can be found here. In the last three months, insiders sold 115,000 shares of company stock worth $5,926,000. 0.03% of the stock is owned by insiders.

NASDAQ:CSCO opened at $56.35 on Monday. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $57.53. The company has a current ratio of 1.69, a quick ratio of 1.74 and a debt-to-equity ratio of 0.43. The stock has a market cap of $271.47 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 2.93 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The business had revenue of $12.96 billion for the quarter, compared to analysts’ expectations of $12.89 billion. During the same quarter in the previous year, the business posted $0.66 EPS. Cisco Systems’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.76 EPS for the current fiscal year.

Cisco Systems declared that its board has authorized a stock buyback program on Wednesday, February 13th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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Cisco Systems Company Profile

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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