Cisco Systems, Inc. (NASDAQ:CSCO) Stake Cut by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 467,640 shares of the network equipment provider’s stock after selling 1,919 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Cisco Systems were worth $24,888,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CSCO. Summit Securities Group LLC bought a new position in Cisco Systems during the 2nd quarter worth $25,000. Quarry LP grew its position in shares of 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 acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC grew its position in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Retirement Group LLC lifted its position in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the 2nd quarter valued at about $36,000. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated 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 owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Maria Victoria Wong sold 638 shares of the business’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 transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Trading Down 0.4 %

CSCO traded down $0.22 during trading on Friday, reaching $55.74. The company had a trading volume of 14,680,466 shares, compared to its average volume of 19,091,068. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06. The company has a market cap of $224.57 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83. The firm’s 50-day simple moving average is $52.12 and its 200 day simple moving average is $48.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. 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, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems 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.