KCM Investment Advisors LLC Has $4.97 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

KCM Investment Advisors LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 93,438 shares of the network equipment provider’s stock after selling 2,622 shares during the period. KCM Investment Advisors LLC’s holdings in Cisco Systems were worth $4,973,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Valley Wealth Managers Inc. lifted its position in shares of Cisco Systems by 1.6% during the 3rd quarter. Valley Wealth Managers Inc. now owns 425,624 shares of the network equipment provider’s stock valued at $22,652,000 after acquiring an additional 6,650 shares during the period. Empowered Funds LLC lifted its position in shares of Cisco Systems by 8.5% during the 3rd quarter. Empowered Funds LLC now owns 424,830 shares of the network equipment provider’s stock valued at $22,609,000 after acquiring an additional 33,404 shares during the period. Empirical Finance LLC lifted its position in shares of Cisco Systems by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 154,700 shares of the network equipment provider’s stock valued at $8,233,000 after acquiring an additional 2,961 shares during the period. BluePointe Capital Management LLC lifted its position in shares of Cisco Systems by 4.0% during the 3rd quarter. BluePointe Capital Management LLC now owns 8,537 shares of the network equipment provider’s stock valued at $454,000 after acquiring an additional 331 shares during the period. Finally, First Business Financial Services Inc. lifted its position in shares of Cisco Systems by 7.0% during the 3rd quarter. First Business Financial Services Inc. now owns 50,979 shares of the network equipment provider’s stock valued at $2,713,000 after acquiring an additional 3,329 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CSCO shares. Morgan Stanley boosted their target price on shares of Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler upped their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI upped 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. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $55.00 to $66.00 in a report on Monday. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $59.42.

Cisco Systems Stock Performance

CSCO traded down $0.48 during midday trading on Friday, reaching $57.44. The company had a trading volume of 3,682,675 shares, compared to its average volume of 19,034,652. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $54.00 and a two-hundred day moving average of $49.69. The company has a market cap of $229.23 billion, a P/E ratio of 24.82, a P/E/G ratio of 4.90 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.79%. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.