Game Creek Capital LP Has $2.15 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Game Creek Capital LP lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 31.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,750 shares of the network equipment provider’s stock after selling 24,250 shares during the quarter. Cisco Systems comprises approximately 1.3% of Game Creek Capital LP’s investment portfolio, making the stock its 25th biggest position. Game Creek Capital LP’s holdings in Cisco Systems were worth $2,150,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Occudo Quantitative Strategies LP acquired a new stake in shares of Cisco Systems in the 2nd quarter valued at $1,464,000. Meiji Yasuda Life Insurance Co raised its position in Cisco Systems by 176.7% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 27,547 shares of the network equipment provider’s stock worth $1,175,000 after purchasing an additional 17,590 shares during the last quarter. Grimes & Company Inc. raised its position in shares of Cisco Systems by 3.3% in the 3rd quarter. Grimes & Company Inc. now owns 491,646 shares of the network equipment provider’s stock worth $19,666,000 after acquiring an additional 15,808 shares in the last quarter. Nadler Financial Group Inc. raised its position in shares of Cisco Systems by 5.7% in the 2nd quarter. Nadler Financial Group Inc. now owns 9,004 shares of the network equipment provider’s stock worth $384,000 after acquiring an additional 487 shares in the last quarter. Finally, LVZ Inc. raised its position in shares of Cisco Systems by 22.9% in the 2nd quarter. LVZ Inc. now owns 7,852 shares of the network equipment provider’s stock worth $335,000 after acquiring an additional 1,464 shares in the last quarter. Institutional investors and hedge funds own 71.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $50.00 price target on shares of Cisco Systems in a research note on Friday, November 18th. Rosenblatt Securities reduced their price target on shares of Cisco Systems from $53.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 17th. Piper Sandler upped their target price on shares of Cisco Systems from $47.00 to $49.00 in a research report on Tuesday, January 17th. TheStreet upgraded shares of Cisco Systems from a “c+” rating to a “b-” rating in a research report on Monday, November 28th. Finally, Credit Suisse Group increased their price target on shares of Cisco Systems from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, November 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $53.95.

Insider Buying and Selling

In related news, SVP Prat Bhatt sold 9,752 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $47.80, for a total transaction of $466,145.60. Following the completion of the transaction, the senior vice president now owns 56,159 shares in the company, valued at approximately $2,684,400.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Prat Bhatt sold 9,752 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $47.80, for a total transaction of $466,145.60. Following the completion of the transaction, the senior vice president now owns 56,159 shares in the company, valued at approximately $2,684,400.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffery S. Sharritts sold 14,830 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $47.80, for a total transaction of $708,874.00. Following the sale, the executive vice president now directly owns 277,751 shares in the company, valued at approximately $13,276,497.80. The disclosure for this sale can be found here. Insiders sold a total of 243,098 shares of company stock worth $11,939,277 in the last 90 days. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Trading Up 0.7 %

NASDAQ:CSCO opened at $47.81 on Wednesday. Cisco Systems, Inc. has a one year low of $38.60 and a one year high of $57.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.34 and a current ratio of 1.45. The firm has a market cap of $196.44 billion, a P/E ratio of 17.26, a P/E/G ratio of 2.31 and a beta of 0.99. The firm has a 50-day simple moving average of $48.07 and a 200-day simple moving average of $45.41.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. Cisco Systems had a net margin of 22.00% and a return on equity of 31.68%. The business had revenue of $13.63 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the previous year, the business posted $0.73 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts anticipate that Cisco Systems, Inc. will post 3.16 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Thursday, January 5th will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, January 4th. This represents a $1.52 annualized dividend and a dividend yield of 3.18%. Cisco Systems’s dividend payout ratio (DPR) is presently 54.87%.

Cisco Systems Company Profile

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Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

See Also

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

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