Pettyjohn Wood & White Inc. Has $4.70 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Pettyjohn Wood & White Inc. boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,879 shares of the network equipment provider’s stock after buying an additional 825 shares during the period. Cisco Systems makes up about 1.5% of Pettyjohn Wood & White Inc.’s investment portfolio, making the stock its 24th biggest position. Pettyjohn Wood & White Inc.’s holdings in Cisco Systems were worth $4,700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baystate Wealth Management LLC increased its position in shares of Cisco Systems by 2.0% during the second quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock worth $600,000 after acquiring an additional 202 shares in the last quarter. Bartlett & Co. LLC increased its position in shares of Cisco Systems by 0.4% during the second quarter. Bartlett & Co. LLC now owns 51,901 shares of the network equipment provider’s stock worth $2,841,000 after acquiring an additional 206 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Cisco Systems by 6.1% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,609 shares of the network equipment provider’s stock worth $156,000 after acquiring an additional 207 shares in the last quarter. Ford Financial Group Inc. increased its position in shares of Cisco Systems by 2.4% during the second quarter. Ford Financial Group Inc. now owns 9,302 shares of the network equipment provider’s stock worth $509,000 after acquiring an additional 218 shares in the last quarter. Finally, Bray Capital Advisors increased its position in shares of Cisco Systems by 2.8% during the second quarter. Bray Capital Advisors now owns 8,217 shares of the network equipment provider’s stock worth $450,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

In other news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $53.56, for a total value of $3,749,200.00. Following the completion of the transaction, the chief financial officer now owns 349,122 shares of the company’s stock, valued at approximately $18,698,974.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark D. Chandler sold 546 shares of Cisco Systems stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. In the last three months, insiders sold 91,925 shares of company stock valued at $4,976,706. Insiders own 0.03% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Oppenheimer increased their price objective on shares of Cisco Systems from $52.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Raymond James reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. JPMorgan Chase & Co. set a $62.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research report on Monday, August 12th. Barclays assumed coverage on shares of Cisco Systems in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 target price for the company. Finally, Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $56.59.

Shares of CSCO opened at $48.99 on Thursday. The firm has a 50-day moving average of $54.50 and a 200-day moving average of $53.76. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $58.26. The company has a market cap of $207.62 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 2.26 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The company had revenue of $13.43 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter last year, the firm posted $0.70 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.06 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

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 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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