Compagnie Lombard Odier SCmA Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Compagnie Lombard Odier SCmA lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 809,764 shares of the network equipment provider’s stock after selling 23,811 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Cisco Systems were worth $43,096,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sawyer & Company Inc raised its position in Cisco Systems by 2.0% in the third quarter. Sawyer & Company Inc now owns 49,057 shares of the network equipment provider’s stock worth $2,611,000 after acquiring an additional 970 shares during the period. Sound Income Strategies LLC raised its position in Cisco Systems by 3.3% in the third quarter. Sound Income Strategies LLC now owns 333,481 shares of the network equipment provider’s stock worth $17,748,000 after acquiring an additional 10,648 shares during the period. CVA Family Office LLC raised its position in Cisco Systems by 9.5% in the third quarter. CVA Family Office LLC now owns 21,533 shares of the network equipment provider’s stock worth $1,146,000 after acquiring an additional 1,863 shares during the period. McGuire Investment Group LLC bought a new position in Cisco Systems in the third quarter worth approximately $210,000. Finally, McGlone Suttner Wealth Management Inc. raised its position in Cisco Systems by 4.0% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 17,434 shares of the network equipment provider’s stock worth $928,000 after acquiring an additional 670 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CSCO shares. Rosenblatt Securities increased their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Piper Sandler restated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.00.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded up $0.71 on Friday, reaching $54.25. The company’s stock had a trading volume of 12,704,525 shares, compared to its average volume of 19,161,271. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.58. The company has a market cap of $216.50 billion, a P/E ratio of 21.36, a PEG ratio of 4.22 and a beta of 0.83. The company has a 50-day simple moving average of $50.14 and a 200 day simple moving average of $48.40. 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 (NASDAQ:CSCO) last issued 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. 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 during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the company posted $1.01 EPS. The business’s revenue was down 10.3% on a year-over-year basis. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.95%. Cisco Systems’s dividend payout ratio is presently 62.99%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were 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 $6,501,957.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. 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. Company insiders own 0.02% of the company’s stock.

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.