KG&L Capital Management LLC Purchases 2,333 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

KG&L Capital Management LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,452 shares of the network equipment provider’s stock after buying an additional 2,333 shares during the period. Cisco Systems comprises 1.0% of KG&L Capital Management LLC’s holdings, making the stock its 26th largest position. KG&L Capital Management LLC’s holdings in Cisco Systems were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Mirador Capital Partners LP raised its position in shares of Cisco Systems by 1.7% during the second quarter. Mirador Capital Partners LP now owns 11,977 shares of the network equipment provider’s stock worth $656,000 after purchasing an additional 199 shares during the period. Weil Company Inc. raised its position in shares of Cisco Systems by 0.5% during the second quarter. Weil Company Inc. now owns 38,992 shares of the network equipment provider’s stock worth $2,134,000 after purchasing an additional 201 shares during the period. Pinnacle Holdings LLC raised its position in shares of Cisco Systems by 1.0% during the second quarter. Pinnacle Holdings LLC now owns 19,758 shares of the network equipment provider’s stock worth $1,081,000 after purchasing an additional 201 shares during the period. Baystate Wealth Management LLC raised 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 purchasing an additional 202 shares during the period. Finally, Keel Point LLC raised its position in shares of Cisco Systems by 3.7% during the second quarter. Keel Point LLC now owns 5,708 shares of the network equipment provider’s stock worth $312,000 after purchasing an additional 202 shares during the period. 73.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cisco Systems stock opened at $46.56 on Friday. The business’s 50 day simple moving average is $48.12 and its 200 day simple moving average is $53.20. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $58.26. The firm has a market cap of $198.85 billion, a PE ratio of 16.61, a P/E/G ratio of 2.26 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion during the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.70 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be paid a $0.35 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 3.01%. Cisco Systems’s dividend payout ratio is 49.12%.

A number of research firms have recently commented on CSCO. Barclays began coverage on Cisco Systems in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price target on the stock. MKM Partners dropped their price target on Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Cowen dropped their price target on Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. UBS Group set a $58.00 price target on Cisco Systems and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Evercore ISI began coverage on Cisco Systems in a research report on Wednesday, September 11th. They set an “outperform” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.04.

In other Cisco Systems news, EVP David Goeckeler sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $49.22, for a total value of $3,445,400.00. Following the completion of the transaction, the executive vice president now directly owns 429,398 shares in the company, valued at $21,134,969.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Irving Tan sold 22,896 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $1,131,520.32. Following the completion of the transaction, the senior vice president now owns 154,819 shares of the company’s stock, valued at $7,651,154.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,130 shares of company stock valued at $9,359,179. Corporate insiders own 0.03% of the company’s stock.

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 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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