Hunter Associates Investment Management LLC Sells 1,113 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Hunter Associates Investment Management LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,583 shares of the network equipment provider’s stock after selling 1,113 shares during the quarter. Cisco Systems accounts for approximately 1.0% of Hunter Associates Investment Management LLC’s portfolio, making the stock its 22nd largest position. Hunter Associates Investment Management LLC’s holdings in Cisco Systems were worth $6,631,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at $25,000. West Financial Advisors LLC grew its position in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Quarry LP grew its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. Retirement Group LLC grew its position in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter worth $36,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.8 %

Shares of Cisco Systems stock opened at $55.28 on Tuesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.06. The stock’s 50-day simple moving average is $52.23 and its 200 day simple moving average is $48.90. The stock has a market capitalization of $222.71 billion, a P/E ratio of 18.61, a P/E/G ratio of 4.22 and a beta of 0.83. 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 announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (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 business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the business posted $1.01 EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CSCO shares. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $56.74.

Insider Activity

In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other 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 transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 27,143 shares of the company’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 transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last ninety days. Company insiders own 0.02% of the company’s stock.

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.