Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,684,865 shares of the network equipment provider’s stock after selling 10,264 shares during the period. Rockefeller Capital Management L.P.’s holdings in Cisco Systems were worth $89,653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CSCO. Summit Securities Group LLC bought a new position in shares of Cisco Systems during the second quarter worth about $25,000. Quarry LP lifted its stake 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 purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its holdings in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the period. Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the second quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems in the 3rd quarter worth about $40,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSCO has been the topic of several research reports. Morgan Stanley increased their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Citigroup raised their price target on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, August 15th. Piper Sandler boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $59.29 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.87. The firm has a market cap of $236.14 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 4.42 and a beta of 0.83. The stock’s 50-day moving average is $55.68 and its 200-day moving average is $50.45.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,479 shares of company stock valued at $19,490,991. 0.01% of the stock is currently owned by insiders.

Cisco Systems Company 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.