Cisco Systems, Inc. $CSCO Shares Bought by Sienna Gestion

Sienna Gestion grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 102.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 454,172 shares of the network equipment provider’s stock after acquiring an additional 230,284 shares during the period. Cisco Systems makes up 2.0% of Sienna Gestion’s portfolio, making the stock its 6th biggest position. Sienna Gestion’s holdings in Cisco Systems were worth $28,332,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Avantax Advisory Services Inc. grew its stake in shares of Cisco Systems by 1.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock valued at $29,163,000 after purchasing an additional 4,525 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of 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 buying an additional 205,043 shares during the period. Greystone Financial Group LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at $8,563,000. Jones Financial Companies Lllp grew its position in Cisco Systems by 8.9% in the third quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock valued at $46,165,000 after acquiring an additional 56,057 shares during the period. Finally, Rockland Trust Co. grew its position in Cisco Systems by 213.8% in the third quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock valued at $1,402,000 after acquiring an additional 13,966 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CSCO shares. Erste Group Bank cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. KeyCorp upped their target price on shares of Cisco Systems from $77.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Morgan Stanley lifted their price target on shares of Cisco Systems from $82.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. UBS Group upped their price objective on shares of Cisco Systems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Citic Securities lifted their target price on shares of Cisco Systems from $75.00 to $90.00 in a research note on Monday, November 17th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $89.55.

Cisco Systems Stock Down 1.7%

Shares of NASDAQ:CSCO opened at $78.64 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The firm has a market cap of $310.62 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.97 and a beta of 0.87. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $88.18. The company’s 50-day moving average price is $77.96 and its two-hundred day moving average price is $74.19.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS 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. 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 annualized dividend and a yield of 2.1%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio (DPR) is currently 58.95%.

Insider Activity

In other news, insider Jeetendra I. Patel sold 11,248 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the transaction, the insider owned 262,776 shares of the company’s stock, valued at $19,970,976. This represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kristina M. Johnson sold 13,481 shares of Cisco Systems stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $77.13, for a total value of $1,039,789.53. Following the completion of the sale, the director owned 61,630 shares of the company’s stock, valued at approximately $4,753,521.90. The trade was a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 75,677 shares of company stock worth $5,811,211. 0.01% of the stock is owned by company insiders.

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.