Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Field & Main Bank

Field & Main Bank lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,605 shares of the network equipment provider’s stock after selling 1,170 shares during the period. Field & Main Bank’s holdings in Cisco Systems were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Axiom Investment Management LLC boosted its position in shares of Cisco Systems by 445.2% during the 1st quarter. Axiom Investment Management LLC now owns 6,133 shares of the network equipment provider’s stock worth $318,000 after purchasing an additional 5,008 shares during the period. Stonnington Group LLC purchased a new position in shares of Cisco Systems during the 1st quarter worth approximately $436,000. Pendal Group Limited boosted its position in shares of Cisco Systems by 6.2% during the 1st quarter. Pendal Group Limited now owns 249,723 shares of the network equipment provider’s stock worth $12,913,000 after purchasing an additional 14,531 shares during the period. Sargent Bickham Lagudis LLC boosted its position in shares of Cisco Systems by 2.6% during the 1st quarter. Sargent Bickham Lagudis LLC now owns 15,975 shares of the network equipment provider’s stock worth $826,000 after purchasing an additional 405 shares during the period. Finally, Fragasso Group Inc. boosted its position in shares of Cisco Systems by 5.2% during the 1st quarter. Fragasso Group Inc. now owns 113,316 shares of the network equipment provider’s stock worth $5,860,000 after purchasing an additional 5,625 shares during the period. Institutional investors and hedge funds own 71.75% of the company’s stock.

Shares of Cisco Systems stock traded up $0.24 during trading on Thursday, hitting $55.54. 19,324,937 shares of the stock were exchanged, compared to its average volume of 18,948,041. The stock has a market cap of $234.25 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 2.48 and a beta of 0.92. The firm’s 50-day moving average price is $55.81 and its 200 day moving average price is $55.24. Cisco Systems, Inc. has a 12-month low of $42.21 and a 12-month high of $60.27. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.62 and a quick ratio of 1.54.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Tuesday, November 16th. The network equipment provider reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Cisco Systems had a net margin of 22.44% and a return on equity of 30.59%. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period last year, the business earned $0.68 EPS. Cisco Systems’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 27th. Investors of record on Tuesday, October 5th were paid a dividend of $0.37 per share. The ex-dividend date was Monday, October 4th. This represents a $1.48 annualized dividend and a yield of 2.66%. Cisco Systems’s dividend payout ratio is currently 55.02%.

CSCO has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, September 16th. Wells Fargo & Company raised their price target on shares of Cisco Systems from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, September 9th. Westpark Capital assumed coverage on shares of Cisco Systems in a research report on Friday, September 24th. They issued a “hold” rating and a $62.00 price target for the company. Piper Sandler raised their price target on shares of Cisco Systems from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, September 16th. Finally, Morgan Stanley cut shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $57.00 to $59.00 in a research report on Thursday, September 9th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus price target of $62.24.

In related news, SVP Prat Bhatt sold 12,722 shares of Cisco Systems stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $54.80, for a total transaction of $697,165.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.02% of the stock is owned by company insiders.

Cisco Systems Company Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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