Cisco Systems, Inc. (NASDAQ:CSCO) Position Boosted by Metropolis Capital Ltd

Metropolis Capital Ltd grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,866,136 shares of the network equipment provider’s stock after buying an additional 575,955 shares during the period. Cisco Systems accounts for 9.0% of Metropolis Capital Ltd’s portfolio, making the stock its 5th biggest position. Metropolis Capital Ltd owned approximately 0.12% of Cisco Systems worth $258,976,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after purchasing an additional 288,775 shares during the period. Citizens Financial Group Inc. RI grew its stake in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after purchasing an additional 51,924 shares during the period. Valmark Advisers Inc. grew its stake in Cisco Systems by 4.7% in the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock worth $1,941,000 after purchasing an additional 1,820 shares during the period. Cornerstone Wealth Management LLC grew its stake in Cisco Systems by 2.4% in the first quarter. Cornerstone Wealth Management LLC now owns 38,053 shares of the network equipment provider’s stock worth $1,899,000 after purchasing an additional 889 shares during the period. Finally, EP Wealth Advisors LLC grew its stake in Cisco Systems by 8.3% in the second quarter. EP Wealth Advisors LLC now owns 1,262,765 shares of the network equipment provider’s stock worth $59,994,000 after purchasing an additional 97,087 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $56.60 on Wednesday. The stock has a 50 day moving average of $51.63 and a 200 day moving average of $48.71. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06. The firm has a market cap of $228.03 billion, a PE ratio of 19.06, a PEG ratio of 4.22 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results 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 return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. On average, research analysts expect 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 53.87%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Tigress Financial boosted their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $56.74.

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.