First Business Financial Services Inc. Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

First Business Financial Services Inc. lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,979 shares of the network equipment provider’s stock after buying an additional 3,329 shares during the quarter. First Business Financial Services Inc.’s holdings in Cisco Systems were worth $2,713,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after acquiring an additional 1,853,598 shares in the last quarter. Legal & General Group Plc raised its position in Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after purchasing an additional 1,530,468 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the period. Swedbank AB purchased a new position in shares of Cisco Systems during the first quarter valued at $840,538,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after acquiring an additional 2,906,357 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 2.1 %

CSCO stock opened at $57.92 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The firm has a market cap of $231.14 billion, a PE ratio of 24.86, a PEG ratio of 4.90 and a beta of 0.83. The firm’s 50 day moving average price is $53.82 and its 200-day moving average price is $49.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.76%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Insider Activity

In related news, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the transaction, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at $14,659,200. This represents a 7.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday. Morgan Stanley upped their price objective on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday. Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, Citigroup raised their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.42.

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.