Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,713 shares of the network equipment provider’s stock after selling 5,131 shares during the period. Redwood Investment Management LLC’s holdings in Cisco Systems were worth $2,106,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Rench Wealth Management Inc. increased its position in shares of Cisco Systems by 1.2% in the third quarter. Rench Wealth Management Inc. now owns 74,674 shares of the network equipment provider’s stock worth $3,974,000 after acquiring an additional 890 shares in the last quarter. Pinpoint Asset Management Ltd purchased a new position in shares of Cisco Systems in the third quarter worth approximately $310,000. Polar Asset Management Partners Inc. lifted its position in shares of Cisco Systems by 82.2% in the third quarter. Polar Asset Management Partners Inc. now owns 579,500 shares of the network equipment provider’s stock worth $30,841,000 after purchasing an additional 261,400 shares in the last quarter. Polymer Capital Management HK LTD purchased a new stake in shares of Cisco Systems in the third quarter worth approximately $798,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Cisco Systems in the third quarter worth approximately $798,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 344,360 shares of company stock worth $19,782,533. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $59.62 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $56.25 and its two-hundred day moving average is $50.76. The company has a market cap of $237.45 billion, a P/E ratio of 25.59, a P/E/G ratio of 4.43 and a beta of 0.85. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly 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. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the business posted $0.98 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given 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 2.68%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Wells Fargo & Company raised their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Piper Sandler increased their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Jefferies Financial Group reduced their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

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.