Swiss National Bank Decreases Stake in Cisco Systems, Inc. $CSCO

Swiss National Bank lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,467,800 shares of the network equipment provider’s stock after selling 574,800 shares during the period. Cisco Systems makes up approximately 0.5% of Swiss National Bank’s portfolio, making the stock its 26th biggest holding. Swiss National Bank’s holdings in Cisco Systems were worth $784,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Bare Financial Services Inc grew its stake in shares of Cisco Systems by 531.0% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock worth $25,000 after purchasing an additional 308 shares during the period. Marquette Asset Management LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in Cisco Systems during the second quarter worth about $28,000. Lowe Wealth Advisors LLC boosted its holdings in Cisco Systems by 96.2% during the third quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Finally, Cedar Mountain Advisors LLC grew its position in Cisco Systems by 115.7% during the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock worth $32,000 after buying an additional 251 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $78.64 on Monday. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $88.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The stock’s 50 day moving average price is $77.96 and its 200 day moving average price is $74.19. The firm has a market cap of $310.62 billion, a P/E ratio of 27.59, a PEG ratio of 2.97 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter last year, the business posted $0.94 earnings per share. Cisco Systems’s revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts expect 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. Investors of record on Thursday, April 2nd will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio (DPR) is 58.95%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Bank of America lifted their price objective on Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. KeyCorp boosted their target price on Cisco Systems from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Piper Sandler raised their price target on Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cisco Systems in a research note on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.55.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 19,545 shares of Cisco Systems stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total transaction of $1,485,420.00. Following the completion of the sale, the chief executive officer directly owned 671,095 shares in the company, valued at $51,003,220. The trade was a 2.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kristina M. Johnson sold 13,481 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $77.13, for a total transaction of $1,039,789.53. Following the completion of the transaction, the director directly owned 61,630 shares of the company’s stock, valued at approximately $4,753,521.90. This represents a 17.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,677 shares of company stock worth $5,811,211 in the last ninety days. Company insiders own 0.01% of the company’s stock.

Cisco Systems 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.