Polymer Capital Management HK LTD Invests $798,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Polymer Capital Management HK LTD acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 15,000 shares of the network equipment provider’s stock, valued at approximately $798,000.

A number of other institutional investors also recently modified their holdings of CSCO. Charles Schwab Investment Management Inc. boosted its position in Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after purchasing an additional 1,677,383 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after buying an additional 1,853,598 shares in the last quarter. FMR LLC increased its holdings in Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Legal & General Group Plc raised its position in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.1 %

NASDAQ:CSCO opened at $59.48 on Wednesday. The firm has a market capitalization of $236.89 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 4.43 and a beta of 0.85. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.87. The business’s 50-day moving average price is $56.11 and its two-hundred day moving average price is $50.70. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insider Buying and Selling

In other Cisco Systems 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 transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the sale, the senior vice president now directly owns 51,931 shares in the company, valued at approximately $3,101,838.63. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 344,360 shares of company stock valued at $19,782,533. 0.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CSCO shares. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Piper Sandler upped their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Finally, Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Ten 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, the company presently has an average rating of “Moderate Buy” and a consensus 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.