Chevy Chase Trust Holdings LLC Purchases 25,887 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Chevy Chase Trust Holdings LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,653,021 shares of the network equipment provider’s stock after purchasing an additional 25,887 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Cisco Systems worth $106,121,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Syverson Strege & Co grew its position in Cisco Systems by 68.9% in the second quarter. Syverson Strege & Co now owns 591 shares of the network equipment provider’s stock valued at $25,000 after acquiring an additional 241 shares during the period. Iron Horse Wealth Management LLC grew its position in Cisco Systems by 328.1% in the second quarter. Iron Horse Wealth Management LLC now owns 655 shares of the network equipment provider’s stock valued at $28,000 after acquiring an additional 502 shares during the period. Steward Financial Group LLC grew its position in Cisco Systems by 49.5% in the second quarter. Steward Financial Group LLC now owns 788 shares of the network equipment provider’s stock valued at $33,000 after acquiring an additional 261 shares during the period. Moisand Fitzgerald Tamayo LLC grew its position in Cisco Systems by 161.3% in the second quarter. Moisand Fitzgerald Tamayo LLC now owns 810 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 500 shares during the period. Finally, Beaird Harris Wealth Management LLC grew its position in Cisco Systems by 164.0% in the second quarter. Beaird Harris Wealth Management LLC now owns 813 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 505 shares during the period. 71.10% of the stock is currently owned by institutional investors.

Cisco Systems Trading Up 0.7 %

NASDAQ:CSCO opened at $47.81 on Wednesday. Cisco Systems, Inc. has a 1-year low of $38.60 and a 1-year high of $57.69. The business’s 50-day moving average price is $48.07 and its two-hundred day moving average price is $45.41. The company has a current ratio of 1.45, a quick ratio of 1.34 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $196.44 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.31 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCO – Get Rating) last released its earnings results on Wednesday, November 16th. The network equipment provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. Cisco Systems had a return on equity of 31.68% and a net margin of 22.00%. The firm had revenue of $13.63 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post 3.16 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Thursday, January 5th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, January 4th. This represents a $1.52 annualized dividend and a dividend yield of 3.18%. Cisco Systems’s dividend payout ratio (DPR) is currently 54.87%.

Analyst Ratings Changes

A number of brokerages have weighed in on CSCO. Credit Suisse Group upped their price target on Cisco Systems from $65.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, November 17th. Rosenblatt Securities decreased their target price on Cisco Systems from $53.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 17th. Morgan Stanley increased their target price on Cisco Systems from $48.00 to $52.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 13th. Piper Sandler increased their target price on Cisco Systems from $47.00 to $49.00 in a report on Tuesday, January 17th. Finally, Oppenheimer restated an “outperform” rating and set a $50.00 target price on shares of Cisco Systems in a report on Friday, November 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.95.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 115,868 shares of the stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $48.64, for a total value of $5,635,819.52. Following the completion of the sale, the chief executive officer now directly owns 827,722 shares in the company, valued at $40,260,398.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, EVP Jeffery S. Sharritts sold 14,830 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $47.80, for a total value of $708,874.00. Following the completion of the sale, the executive vice president now directly owns 277,751 shares in the company, valued at $13,276,497.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 115,868 shares of the stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $48.64, for a total value of $5,635,819.52. Following the completion of the sale, the chief executive officer now owns 827,722 shares of the company’s stock, valued at $40,260,398.08. The disclosure for this sale can be found here. Insiders sold 243,098 shares of company stock worth $11,939,277 over the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Company Profile

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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.