Meiji Yasuda Asset Management Co Ltd. Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 149,542 shares of the network equipment provider’s stock after buying an additional 6,761 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cisco Systems were worth $7,105,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. raised its holdings in shares of Cisco Systems by 1.1% in the fourth quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after purchasing an additional 264 shares during the last quarter. Gryphon Financial Partners LLC grew its position in Cisco Systems by 104.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock worth $1,177,000 after purchasing an additional 11,767 shares in the last quarter. Sachetta LLC purchased a new stake in Cisco Systems in the 4th quarter valued at about $306,000. CreativeOne Wealth LLC lifted its position in shares of Cisco Systems by 3.5% during the 4th quarter. CreativeOne Wealth LLC now owns 36,868 shares of the network equipment provider’s stock worth $1,863,000 after buying an additional 1,239 shares in the last quarter. Finally, Nemes Rush Group LLC boosted its stake in shares of Cisco Systems by 1.4% in the 4th quarter. Nemes Rush Group LLC now owns 222,050 shares of the network equipment provider’s stock worth $11,218,000 after buying an additional 3,156 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Down 0.8 %

CSCO stock opened at $50.61 on Wednesday. The stock has a 50-day simple moving average of $48.25 and a two-hundred day simple moving average of $47.99. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $56.28. The firm has a market capitalization of $203.90 billion, a PE ratio of 17.04, a PEG ratio of 3.87 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating 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 company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the business earned $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.16%. Cisco Systems’s payout ratio is currently 53.87%.

Analyst Ratings Changes

CSCO has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Piper Sandler restated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities lifted their price objective 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. Finally, Jefferies Financial Group reduced their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and a consensus price target of $55.89.

Cisco Systems Profile

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.