Financial Management Network Inc. Purchases New Shares in Cisco Systems, Inc. (NASDAQ:CSCO)

Financial Management Network Inc. acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,984 shares of the network equipment provider’s stock, valued at approximately $421,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at approximately $25,000. Quarry LP increased its position in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% during the 3rd 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. Retirement Group LLC boosted its holdings in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems during the second quarter valued at about $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

NASDAQ:CSCO traded up $0.41 during trading hours on Friday, hitting $56.37. The stock had a trading volume of 1,704,012 shares, compared to its average volume of 19,028,391. The firm has a market capitalization of $227.10 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.06. The company has a 50 day simple moving average of $51.85 and a two-hundred day simple moving average of $48.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last three months. 0.02% of the stock is owned by insiders.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. Tigress Financial upped their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $56.74.

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.