Tributary Capital Management LLC Boosts Position in Cisco Systems, Inc. (CSCO)

Tributary Capital Management LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 769.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 181,050 shares of the network equipment provider’s stock after acquiring an additional 160,225 shares during the quarter. Tributary Capital Management LLC’s holdings in Cisco Systems were worth $7,791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Certified Advisory Corp purchased a new position in shares of Cisco Systems in the 4th quarter worth about $116,000. Trustcore Financial Services LLC boosted its holdings in shares of Cisco Systems by 143.5% in the 1st quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock worth $141,000 after buying an additional 1,941 shares during the last quarter. Smart Portfolios LLC purchased a new position in shares of Cisco Systems in the 1st quarter worth about $146,000. Legacy Advisors LLC boosted its holdings in shares of Cisco Systems by 597.6% in the 2nd quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock worth $148,000 after buying an additional 2,940 shares during the last quarter. Finally, Stelac Advisory Services LLC purchased a new position in shares of Cisco Systems in the 1st quarter worth about $149,000. 71.39% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Mark D. Chandler sold 31,842 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $1,502,942.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Charles Robbins sold 217,420 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $47.28, for a total value of $10,279,617.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 450,620 shares of company stock worth $21,322,282. Company insiders own 0.05% of the company’s stock.

A number of equities analysts recently weighed in on the stock. UBS Group set a $56.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Wednesday. Piper Jaffray Companies set a $50.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Tuesday, September 11th. Morgan Stanley boosted their price target on shares of Cisco Systems from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, September 4th. BidaskClub raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Finally, Loop Capital reissued a “hold” rating and issued a $47.00 price target on shares of Cisco Systems in a report on Monday, August 20th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.37.

Shares of CSCO opened at $48.33 on Friday. Cisco Systems, Inc. has a twelve month low of $33.17 and a twelve month high of $49.06. The stock has a market cap of $233.51 billion, a PE ratio of 20.65, a P/E/G ratio of 2.86 and a beta of 1.06. The company has a current ratio of 2.29, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. sell-side analysts predict that Cisco Systems, Inc. will post 2.67 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, October 4th. Cisco Systems’s dividend payout ratio is presently 56.41%.

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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