Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by EdgeRock Capital LLC

EdgeRock Capital LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,529 shares of the network equipment provider’s stock after purchasing an additional 226 shares during the quarter. EdgeRock Capital LLC’s holdings in Cisco Systems were worth $241,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new stake in Cisco Systems during the second quarter worth about $25,000. Quarry LP grew its holdings in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC boosted its holdings in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Retirement Group LLC lifted its holdings in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the second quarter valued at approximately $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. 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. 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 transaction of $64,965.76. Following the completion of 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 in the last ninety days. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on CSCO shares. Piper Sandler restated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Rosenblatt Securities upped their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.21.

Cisco Systems Stock Down 0.4 %

NASDAQ CSCO opened at $54.08 on Wednesday. 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 company has a market cap of $217.88 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 4.22 and a beta of 0.83. The company has a 50 day moving average of $50.51 and a 200-day moving average of $48.45. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.61.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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 firm 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 27.83% and a net margin of 19.18%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. Cisco Systems’s payout ratio is 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.