NEOS Investment Management LLC Has $113.49 Million Stock Position in Cisco Systems, Inc. $CSCO

NEOS Investment Management LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 63.6% in the third quarter, HoldingsChannel reports. The fund owned 1,658,768 shares of the network equipment provider’s stock after buying an additional 644,636 shares during the quarter. Cisco Systems accounts for 0.8% of NEOS Investment Management LLC’s portfolio, making the stock its 15th biggest holding. NEOS Investment Management LLC’s holdings in Cisco Systems were worth $113,493,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Cisco Systems during the second quarter worth approximately $3,816,825,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Cisco Systems by 413.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,393,371 shares of the network equipment provider’s stock worth $1,553,645,000 after buying an additional 18,030,441 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Cisco Systems by 46.2% during the 2nd quarter. Franklin Resources Inc. now owns 40,836,858 shares of the network equipment provider’s stock valued at $2,833,261,000 after buying an additional 12,904,969 shares during the period. Laurel Wealth Advisors LLC grew its holdings in shares of Cisco Systems by 6,778.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,810,012 shares of the network equipment provider’s stock valued at $472,479,000 after acquiring an additional 6,711,004 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Cisco Systems by 1.3% in the second quarter. Vanguard Group Inc. now owns 393,989,568 shares of the network equipment provider’s stock worth $27,334,996,000 after acquiring an additional 5,039,714 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 9,801 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $76.38, for a total value of $748,600.38. Following the transaction, the senior vice president owned 33,026 shares in the company, valued at $2,522,525.88. This trade represents a 22.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 56,038 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $78.33, for a total transaction of $4,389,456.54. Following the transaction, the executive vice president owned 179,780 shares in the company, valued at approximately $14,082,167.40. The trade was a 23.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 108,493 shares of company stock valued at $8,435,818. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CSCO. JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Argus boosted their target price on shares of Cisco Systems from $80.00 to $100.00 in a research report on Thursday, November 13th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price target on shares of Cisco Systems in a research report on Thursday, February 12th. Erste Group Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Monday, November 10th. Finally, Zacks Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.19.

Cisco Systems Stock Up 2.5%

NASDAQ CSCO opened at $76.85 on Tuesday. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $88.18. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $77.79 and its two-hundred day moving average is $73.20. The company has a market capitalization of $303.64 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 2.86 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. The business had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.Cisco Systems’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.2%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s payout ratio is currently 57.54%.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.