Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 50.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,000 shares of the network equipment provider’s stock after selling 42,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Cisco Systems were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Cisco Systems by 1,096.2% during the fourth 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 purchasing an additional 2,663,676 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Cisco Systems by 0.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock valued at $13,683,000 after purchasing an additional 1,520 shares in the last quarter. Marcum Wealth LLC grew its holdings in shares of Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after buying an additional 943 shares in the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. raised its position in Cisco Systems by 1,161.9% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 1,008,782 shares of the network equipment provider’s stock valued at $50,964,000 after buying an additional 928,841 shares during the period. Finally, Inscription Capital LLC boosted its position in Cisco Systems by 49.4% during the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock worth $2,300,000 after acquiring an additional 15,198 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CSCO. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a report on Monday, May 13th. Finally, StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.89.

Cisco Systems Stock Performance

CSCO stock traded up $0.15 during midday trading on Friday, hitting $50.54. The stock had a trading volume of 15,615,756 shares, compared to its average volume of 21,125,456. The firm has a market capitalization of $203.62 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 3.98 and a beta of 0.85. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock has a 50-day simple moving average of $47.62 and a 200 day simple moving average of $47.91. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $58.19.

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

Cisco Systems Announces Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.17%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the 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 completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. Insiders have sold a total of 71,944 shares of company stock valued at $3,566,120 in the last 90 days. 0.02% of the stock is owned by corporate insiders.

About Cisco Systems

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.