Martingale Asset Management L P Has $37.87 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Martingale Asset Management L P lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 711,641 shares of the network equipment provider’s stock after selling 132,378 shares during the period. Cisco Systems makes up approximately 0.9% of Martingale Asset Management L P’s holdings, making the stock its 22nd biggest position. Martingale Asset Management L P’s holdings in Cisco Systems were worth $37,874,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CSCO. Aviso Wealth Management boosted its position in Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after acquiring an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC lifted its position in Cisco Systems by 2.9% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after acquiring an additional 182 shares in the last quarter. Andina Capital Management LLC lifted its position in Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after acquiring an additional 182 shares in the last quarter. Wealth Dimensions Group Ltd. lifted its position in Cisco Systems by 1.6% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock valued at $605,000 after acquiring an additional 182 shares in the last quarter. Finally, Meridian Financial Partners LLC increased its stake in Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 339,479 shares of company stock worth $19,490,991 over the last 90 days. 0.01% of the stock is owned by company insiders.

Cisco Systems Price Performance

CSCO stock opened at $59.29 on Friday. The firm’s 50-day moving average price is $55.68 and its two-hundred day moving average price is $50.45. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.87. The stock has a market capitalization of $236.14 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 4.42 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.

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

Cisco Systems Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CSCO shares. Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Piper Sandler lifted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Evercore ISI lifted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.94.

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.