Financial Gravity Companies Inc. Purchases Shares of 8,844 Cisco Systems, Inc. (CSCO)

Financial Gravity Companies Inc. purchased a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,844 shares of the network equipment provider’s stock, valued at approximately $367,000.

Several other large investors have also recently made changes to their positions in CSCO. HM Payson & Co. lifted its stake in Cisco Systems by 1.4% in the 3rd quarter. HM Payson & Co. now owns 936,504 shares of the network equipment provider’s stock valued at $31,495,000 after buying an additional 13,358 shares in the last quarter. Cedar Capital LLC lifted its stake in Cisco Systems by 23.3% in the 3rd quarter. Cedar Capital LLC now owns 12,017 shares of the network equipment provider’s stock valued at $404,000 after buying an additional 2,267 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in Cisco Systems by 291.9% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 585,625 shares of the network equipment provider’s stock valued at $19,591,000 after buying an additional 436,206 shares in the last quarter. Lehman Financial Resources Inc. purchased a new stake in Cisco Systems in the 3rd quarter valued at approximately $3,992,000. Finally, Cobblestone Capital Advisors LLC NY lifted its stake in Cisco Systems by 14.2% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 32,317 shares of the network equipment provider’s stock valued at $1,087,000 after buying an additional 4,021 shares in the last quarter. 73.89% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP David Goeckeler sold 20,671 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $45.50, for a total value of $940,530.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director M Michele Burns sold 12,126 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $45.37, for a total value of $550,156.62. Following the completion of the sale, the director now owns 74,479 shares of the company’s stock, valued at $3,379,112.23. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a research note on Thursday, February 15th. Royal Bank of Canada reissued a “buy” rating and set a $44.00 price target on shares of Cisco Systems in a research note on Monday, February 12th. Zacks Investment Research lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. KeyCorp increased their price target on Cisco Systems from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Finally, Piper Jaffray Companies set a $48.00 price target on Cisco Systems and gave the stock a “buy” rating in a research note on Thursday, February 15th. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $46.11.

Shares of Cisco Systems opened at $43.68 on Thursday, according to Marketbeat.com. Cisco Systems, Inc. has a 12-month low of $30.36 and a 12-month high of $46.37. The firm has a market capitalization of $210.28 billion, a P/E ratio of 20.32, a P/E/G ratio of 3.11 and a beta of 1.14. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.34 and a quick ratio of 2.28.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The firm had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $12.42 billion. During the same period in the prior year, the firm earned $0.60 EPS. analysts forecast that Cisco Systems, Inc. will post 2.34 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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

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