Ignite Planners LLC Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Ignite Planners LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,495 shares of the network equipment provider’s stock after selling 548 shares during the period. Ignite Planners LLC’s holdings in Cisco Systems were worth $790,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. United Bank acquired a new position in Cisco Systems during the 1st quarter worth about $645,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cisco Systems by 32.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock worth $236,593,000 after acquiring an additional 1,040,607 shares during the period. Roundview Capital LLC raised its position in Cisco Systems by 13.1% in the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock valued at $588,000 after purchasing an additional 1,221 shares in the last quarter. Merit Financial Group LLC increased its stake in shares of Cisco Systems by 21.5% during the first quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock worth $656,000 after buying an additional 2,079 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Cisco Systems by 8.1% in the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after purchasing an additional 182,857 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 3,022 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total transaction of $169,896.84. Following the sale, the executive vice president now owns 169,396 shares of the company’s stock, valued at $9,523,443.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 17,687 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $55.16, for a total transaction of $975,614.92. Following the transaction, the chief executive officer now owns 716,191 shares of the company’s stock, valued at approximately $39,505,095.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the completion of the transaction, the executive vice president now owns 169,396 shares of the company’s stock, valued at $9,523,443.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,438 shares of company stock valued at $2,948,779. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $56.11 on Tuesday. The firm has a market capitalization of $227.52 billion, a P/E ratio of 18.28, a PEG ratio of 2.48 and a beta of 0.97. Cisco Systems, Inc. has a one year low of $38.60 and a one year high of $58.19. The company’s fifty day moving average is $54.20 and its two-hundred day moving average is $51.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 1.38.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.08. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.05 billion. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. Cisco Systems’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. Analysts forecast that Cisco Systems, Inc. will post 3.58 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Tuesday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 50.81%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CSCO. Piper Sandler upped their price objective on Cisco Systems from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Citigroup increased their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. UBS Group boosted their price objective on shares of Cisco Systems from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the company from $55.00 to $62.00 in a research report on Wednesday, July 19th. Finally, Oppenheimer reissued an “outperform” rating and issued a $58.00 price target on shares of Cisco Systems in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $59.43.

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 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.