BluePath Capital Management LLC Purchases 2,557 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

BluePath Capital Management LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,813 shares of the network equipment provider’s stock after buying an additional 2,557 shares during the period. Cisco Systems makes up about 0.7% of BluePath Capital Management LLC’s portfolio, making the stock its 29th largest position. BluePath Capital Management LLC’s holdings in Cisco Systems were worth $1,054,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Summit Securities Group LLC acquired a new position in Cisco Systems during the second quarter worth $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 worth $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% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the second quarter worth $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.3 %

Cisco Systems stock opened at $55.50 on Friday. The stock has a market capitalization of $221.49 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83. 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, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06. The firm has a 50 day simple moving average of $52.63 and a 200-day simple moving average of $49.09.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. Cisco Systems’s dividend payout ratio is currently 62.99%.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction 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 in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now directly 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Evercore ISI boosted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Tigress Financial increased 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. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. Finally, HSBC upgraded shares of 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 report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price 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.