UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,834,269 shares of the network equipment provider’s stock after selling 688,212 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cisco Systems were worth $1,800,660,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. First City Capital Management Inc. increased its holdings in Cisco Systems by 2.6% in the first quarter. First City Capital Management Inc. now owns 20,232 shares of the network equipment provider’s stock valued at $1,010,000 after buying an additional 515 shares in the last quarter. Cetera Investment Advisers raised its holdings in Cisco Systems by 217.4% during the first quarter. Cetera Investment Advisers now owns 1,107,552 shares of the network equipment provider’s stock worth $55,278,000 after purchasing an additional 758,624 shares during the last quarter. Cetera Advisors LLC boosted its position in Cisco Systems by 90.1% during the first quarter. Cetera Advisors LLC now owns 268,251 shares of the network equipment provider’s stock worth $13,388,000 after purchasing an additional 127,174 shares in the last quarter. Clean Yield Group grew its holdings in Cisco Systems by 25.0% in the first quarter. Clean Yield Group now owns 86,246 shares of the network equipment provider’s stock valued at $4,305,000 after purchasing an additional 17,247 shares during the last quarter. Finally, Birmingham Capital Management Co. Inc. AL increased its position in shares of Cisco Systems by 1.7% in the first quarter. Birmingham Capital Management Co. Inc. AL now owns 18,106 shares of the network equipment provider’s stock valued at $904,000 after buying an additional 296 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CSCO shares. Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Barclays upped their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $59.94.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This represents a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 339,479 shares of company stock valued at $19,490,991. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $59.29 on Thursday. The company has a market cap of $236.14 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 4.38 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $55.53 and a two-hundred day moving average price of $50.39. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.87.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. Cisco Systems’s payout ratio is 68.67%.

Cisco Systems 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.