Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,605,491 shares of the network equipment provider’s stock after selling 37,400 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Cisco Systems were worth $76,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Banque Pictet & Cie SA grew its stake in shares of Cisco Systems by 1.4% during the 2nd quarter. Banque Pictet & Cie SA now owns 52,726 shares of the network equipment provider’s stock worth $2,496,000 after purchasing an additional 726 shares during the period. Atlantic Union Bankshares Corp grew its stake in shares of Cisco Systems by 19.4% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 251,930 shares of the network equipment provider’s stock worth $11,969,000 after purchasing an additional 40,998 shares during the period. McAdam LLC grew its stake in shares of Cisco Systems by 2.1% during the 2nd quarter. McAdam LLC now owns 12,015 shares of the network equipment provider’s stock worth $571,000 after purchasing an additional 243 shares during the period. LRI Investments LLC grew its stake in shares of Cisco Systems by 18.5% during the 2nd quarter. LRI Investments LLC now owns 10,042 shares of the network equipment provider’s stock worth $477,000 after purchasing an additional 1,570 shares during the period. Finally, Advisory Resource Group grew its stake in shares of Cisco Systems by 13.5% during the 2nd quarter. Advisory Resource Group now owns 95,934 shares of the network equipment provider’s stock worth $4,558,000 after purchasing an additional 11,404 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.0 %

Shares of CSCO traded up $0.52 during midday trading on Friday, reaching $50.74. The company had a trading volume of 16,474,069 shares, compared to its average volume of 19,887,607. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.19. The stock has a market cap of $204.42 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The firm has a 50 day simple moving average of $47.20 and a 200-day simple moving average of $47.89. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. Research analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.89.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,274 shares of company stock valued at $4,764,829. 0.02% of the stock is currently owned by insiders.

Cisco Systems Company 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 and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.