Hudson Edge Investment Partners Inc. Acquires 12,093 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hudson Edge Investment Partners Inc. lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,659 shares of the network equipment provider’s stock after buying an additional 12,093 shares during the period. Cisco Systems makes up approximately 1.2% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 14th biggest position. Hudson Edge Investment Partners Inc.’s holdings in Cisco Systems were worth $6,255,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after acquiring an additional 2,663,676 shares during the period. Marcum Wealth LLC lifted its position in Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after purchasing an additional 943 shares during the period. Inscription Capital LLC grew its stake in Cisco Systems by 49.4% during the first quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock worth $2,300,000 after buying an additional 15,198 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $117,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Cisco Systems by 7.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,515,393 shares of the network equipment provider’s stock valued at $228,070,000 after buying an additional 314,061 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 1.3 %

Shares of NASDAQ CSCO traded down $0.63 during midday trading on Friday, hitting $48.50. 21,040,496 shares of the stock traded hands, compared to its average volume of 19,646,146. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.09. The business has a 50 day moving average price of $47.84 and a two-hundred day moving average price of $47.93. The company has a market cap of $195.40 billion, a PE ratio of 16.33, a P/E/G ratio of 3.98 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was down 10.3% on a year-over-year basis. On average, equities analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Ratings Changes

CSCO has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Monday, May 13th. Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities lifted their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and a consensus target price of $55.89.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Insiders have sold 71,944 shares of company stock valued at $3,566,120 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

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.