Cisco Systems, Inc. $CSCO Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 83.5% in the 3rd quarter, Holdings Channel reports. The fund owned 3,592 shares of the network equipment provider’s stock after selling 18,241 shares during the period. GSA Capital Partners LLP’s holdings in Cisco Systems were worth $246,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. raised its stake in Cisco Systems by 1.1% during the second quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock worth $29,163,000 after acquiring an additional 4,525 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Cisco Systems by 6.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock worth $218,236,000 after acquiring an additional 205,043 shares during the period. Greystone Financial Group LLC acquired a new stake in Cisco Systems in the third quarter worth about $8,563,000. Jones Financial Companies Lllp lifted its stake in shares of Cisco Systems by 8.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock worth $46,165,000 after acquiring an additional 56,057 shares during the period. Finally, Rockland Trust Co. boosted its stake in Cisco Systems by 213.8% during the 3rd quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock valued at $1,402,000 after purchasing an additional 13,966 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.7%

NASDAQ:CSCO opened at $79.46 on Friday. The business’s fifty day moving average price is $77.82 and its 200 day moving average price is $73.73. The firm has a market capitalization of $313.86 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 3.00 and a beta of 0.87. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $88.18.

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

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be issued a dividend of $0.42 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s dividend payout ratio is 57.54%.

Insider Activity

In other news, SVP Maria Victoria Wong sold 2,179 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total transaction of $169,395.46. Following the completion of the sale, the senior vice president directly owned 28,807 shares of the company’s stock, valued at $2,239,456.18. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 19,545 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the sale, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. The trade was a 2.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 75,677 shares of company stock valued at $5,811,211. 0.01% of the stock is currently owned by company insiders.

Key Headlines Impacting Cisco Systems

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Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Zacks Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cisco Systems in a report on Tuesday, January 27th. Citic Securities raised their price objective on Cisco Systems from $75.00 to $90.00 in a research note on Monday, November 17th. Bank of America lifted their target price on Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Piper Sandler upped their target price on Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.55.

Get Our Latest Analysis on Cisco Systems

About Cisco Systems

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOFree Report).

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

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