Cable Hill Partners LLC Boosts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Cable Hill Partners LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,310 shares of the network equipment provider’s stock after buying an additional 881 shares during the quarter. Cable Hill Partners LLC’s holdings in Cisco Systems were worth $974,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Main Street Financial Solutions LLC grew its stake in Cisco Systems by 1.2% during the third quarter. Main Street Financial Solutions LLC now owns 23,073 shares of the network equipment provider’s stock valued at $1,228,000 after acquiring an additional 273 shares in the last quarter. D Orazio & Associates Inc. grew its position in shares of Cisco Systems by 3.3% during the 3rd quarter. D Orazio & Associates Inc. now owns 9,597 shares of the network equipment provider’s stock valued at $511,000 after purchasing an additional 304 shares in the last quarter. Schrum Private Wealth Management LLC grew its position in shares of Cisco Systems by 75.7% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 10,096 shares of the network equipment provider’s stock valued at $537,000 after purchasing an additional 4,349 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its position in shares of Cisco Systems by 18.8% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 52,594 shares of the network equipment provider’s stock worth $2,799,000 after buying an additional 8,337 shares in the last quarter. Finally, Angeles Investment Advisors LLC boosted its stake in Cisco Systems by 2.3% during the third quarter. Angeles Investment Advisors LLC now owns 10,546 shares of the network equipment provider’s stock valued at $561,000 after buying an additional 237 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSCO. Evercore ISI upped their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. 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. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $66.00 in a research report on Monday. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $57.32.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were 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 owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated 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 owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Up 0.8 %

Shares of Cisco Systems stock opened at $59.18 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The company has a market cap of $236.17 billion, a P/E ratio of 23.30, a PEG ratio of 4.86 and a beta of 0.83. The company’s fifty day simple moving average is $53.64 and its two-hundred day simple moving average is $49.57.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly 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. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is 62.99%.

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.