Bradley Foster & Sargent Inc. CT Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Bradley Foster & Sargent Inc. CT reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 598,835 shares of the network equipment provider’s stock after selling 45,996 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Cisco Systems were worth $28,451,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after buying an additional 2,663,676 shares during the period. Marcum Wealth LLC grew its stake in Cisco Systems by 4.0% during the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after purchasing an additional 943 shares in the last quarter. Inscription Capital LLC grew its stake in Cisco Systems by 49.4% during the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after purchasing an additional 15,198 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in Cisco Systems during the 4th quarter valued at approximately $117,000. Finally, Citizens Financial Group Inc. RI grew its stake in 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 valued at $12,573,000 after purchasing an additional 51,924 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $50.61 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $203.90 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 3.87 and a beta of 0.83. The stock’s fifty day simple moving average is $48.25 and its 200 day simple moving average is $47.99. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.28.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.16%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSCO. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Rosenblatt Securities raised their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.89.

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.