Tranquility Partners LLC Sells 183 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Tranquility Partners LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 8,155 shares of the network equipment provider’s stock after selling 183 shares during the period. Tranquility Partners LLC’s holdings in Cisco Systems were worth $434,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after acquiring an additional 288,775 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after buying an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares during the period. Quintet Private Bank Europe S.A. grew its stake in Cisco Systems by 17.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after buying an additional 92,179 shares during the last quarter. Finally, IRON Financial LLC acquired a new stake in Cisco Systems during the third quarter worth approximately $856,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This represents a 1.37 % 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 8,270 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The trade was a 5.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,615 shares of company stock worth $682,681. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $57.31 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The company has a market capitalization of $228.71 billion, a P/E ratio of 24.60, a PEG ratio of 4.67 and a beta of 0.83. The company has a fifty day moving average price of $54.35 and a 200-day moving average price of $49.88.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company 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. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.79%. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent research reports. Evercore ISI increased their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research 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 report on Thursday, August 15th. Barclays boosted their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.94.

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.