Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Increased by Pitcairn Co.

Pitcairn Co. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 80,152 shares of the network equipment provider’s stock after buying an additional 3,301 shares during the period. Pitcairn Co.’s holdings in Cisco Systems were worth $4,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aviso Wealth Management increased its holdings in Cisco Systems by 2.4% in the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after buying an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC increased its holdings in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after buying an additional 182 shares during the last quarter. Andina Capital Management LLC increased its holdings in Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after buying an additional 182 shares during the last quarter. Meridian Financial Partners LLC increased its holdings in Cisco Systems by 3.8% in the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after buying an additional 185 shares during the last quarter. Finally, Gleason Group Inc. increased its holdings in Cisco Systems by 0.9% in the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock valued at $1,207,000 after buying an additional 193 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $58.55 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The stock has a fifty day moving average of $55.02 and a 200-day moving average of $50.13. The company has a market capitalization of $233.19 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 4.28 and a beta of 0.83. 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 (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. Cisco Systems’s payout ratio is currently 68.67%.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 342,858 shares of company stock worth $19,661,157 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of a number of research reports. Bank of America lifted their target price on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, Morgan Stanley boosted their price objective on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently 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.