Principal Street Partners LLC Has $677,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Principal Street Partners LLC raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 51.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,704 shares of the network equipment provider’s stock after acquiring an additional 4,648 shares during the period. Principal Street Partners LLC’s holdings in Cisco Systems were worth $677,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after acquiring an additional 288,775 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after purchasing an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares in the last quarter. Quintet Private Bank Europe S.A. grew its holdings in shares of Cisco Systems by 17.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after purchasing an additional 92,179 shares during the last quarter. Finally, IRON Financial LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at $856,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.8 %

Shares of CSCO stock traded up $0.46 on Tuesday, hitting $59.20. The stock had a trading volume of 1,513,188 shares, compared to its average volume of 19,177,025. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.41. The company has a fifty day moving average price of $55.17 and a two-hundred day moving average price of $50.24. The firm has a market cap of $235.78 billion, a P/E ratio of 25.21, a PEG ratio of 4.37 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Citigroup increased their price target on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Wells Fargo & Company boosted their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.94.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction 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 $2,258,974.53. This represents a 1.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 342,858 shares of company stock valued at $19,661,157 over the last quarter. Corporate insiders own 0.01% 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.