Financial Insights Inc. Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Financial Insights Inc. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 40.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,248 shares of the network equipment provider’s stock after selling 6,306 shares during the period. Financial Insights Inc.’s holdings in Cisco Systems were worth $492,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after buying an additional 288,775 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in shares of Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after buying an additional 51,924 shares during the last quarter. Valmark Advisers Inc. grew its position in shares of Cisco Systems by 4.7% in the 2nd quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock worth $1,941,000 after buying an additional 1,820 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Cisco Systems by 2.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 38,053 shares of the network equipment provider’s stock worth $1,899,000 after buying an additional 889 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of Cisco Systems by 8.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,262,765 shares of the network equipment provider’s stock worth $59,994,000 after buying an additional 97,087 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on 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 owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CSCO shares. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, August 15th. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $62.00 in a research note on Wednesday, October 16th. Finally, Barclays lowered their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $56.74.

Cisco Systems Stock Performance

CSCO opened at $56.60 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a fifty day moving average price of $51.63 and a 200 day moving average price of $48.71. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $57.06. The stock has a market cap of $228.03 billion, a P/E ratio of 19.06, a P/E/G ratio of 4.22 and a beta of 0.83.

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

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

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.