Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by SpiderRock Advisors LLC

SpiderRock Advisors LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 195,391 shares of the network equipment provider’s stock after selling 15,644 shares during the period. SpiderRock Advisors LLC’s holdings in Cisco Systems were worth $10,399,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. CWA Asset Management Group LLC bought a new position in shares of Cisco Systems during the third quarter worth about $7,186,000. Equitable Trust Co. increased its stake in Cisco Systems by 12.1% during the 3rd quarter. Equitable Trust Co. now owns 60,753 shares of the network equipment provider’s stock valued at $3,233,000 after buying an additional 6,555 shares during the period. Leavell Investment Management Inc. raised its holdings in Cisco Systems by 29.8% during the third quarter. Leavell Investment Management Inc. now owns 83,559 shares of the network equipment provider’s stock worth $4,447,000 after purchasing an additional 19,169 shares in the last quarter. Fiera Capital Corp increased its position in shares of Cisco Systems by 11.2% during the 3rd quarter. Fiera Capital Corp now owns 13,279 shares of the network equipment provider’s stock valued at $707,000 after purchasing an additional 1,341 shares during the period. Finally, Hollencrest Capital Management grew its holdings in Cisco Systems by 2.8% during the third quarter. Hollencrest Capital Management now owns 7,651 shares of the network equipment provider’s stock worth $407,000 after acquiring an additional 208 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems 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 transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 in the last quarter. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CSCO. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group cut their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Barclays reduced their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $58.06 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $58.30. The business has a 50-day moving average of $53.30 and a two-hundred day moving average of $49.40. The stock has a market capitalization of $231.70 billion, a P/E ratio of 22.86, a P/E/G ratio of 4.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the company earned $1.01 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.76%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Cisco Systems Company 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.