Strategy Asset Managers LLC Sells 32,376 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Strategy Asset Managers LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,465 shares of the network equipment provider’s stock after selling 32,376 shares during the period. Cisco Systems accounts for approximately 1.7% of Strategy Asset Managers LLC’s holdings, making the stock its 13th largest position. Strategy Asset Managers LLC’s holdings in Cisco Systems were worth $9,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prospera Private Wealth LLC bought a new position in Cisco Systems during the third quarter worth about $1,529,000. West Family Investments Inc. boosted its stake in shares of Cisco Systems by 1.8% in the third quarter. West Family Investments Inc. now owns 24,372 shares of the network equipment provider’s stock valued at $1,297,000 after buying an additional 428 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Cisco Systems during the 3rd quarter valued at $38,033,000. Banque Cantonale Vaudoise grew its stake in Cisco Systems by 13.5% during the third quarter. Banque Cantonale Vaudoise now owns 375,894 shares of the network equipment provider’s stock worth $20,004,000 after buying an additional 44,766 shares in the last quarter. Finally, Wrapmanager Inc. increased its holdings in Cisco Systems by 26.8% in the 3rd quarter. Wrapmanager Inc. now owns 30,868 shares of the network equipment provider’s stock valued at $1,643,000 after buying an additional 6,526 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several analyst reports. Morgan Stanley increased their price target on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Piper Sandler lifted their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Barclays upped their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 321,628 shares of company stock valued at $18,449,561. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $57.01 on Wednesday. The firm has a market capitalization of $227.51 billion, a P/E ratio of 24.47, a P/E/G ratio of 4.67 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38. The company has a fifty day moving average of $54.52 and a 200-day moving average of $49.95. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

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.