Cobblestone Capital Advisors LLC NY Sells 1,737 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cobblestone Capital Advisors LLC NY cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,265 shares of the network equipment provider’s stock after selling 1,737 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Cisco Systems were worth $1,398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. FMR LLC lifted its position in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Dimensional Fund Advisors LP raised its stake in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after buying an additional 4,842,542 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Cisco Systems by 87.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider’s stock worth $294,923,000 after acquiring an additional 2,591,684 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Cisco Systems by 4,524.9% during the 3rd quarter. International Assets Investment Management LLC now owns 2,087,369 shares of the network equipment provider’s stock worth $1,110,900,000 after acquiring an additional 2,042,236 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CSCO shares. Rosenblatt Securities upped their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. 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 note on Thursday, November 14th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Stock Down 0.1 %

NASDAQ CSCO opened at $59.21 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.87. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $235.82 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 4.41 and a beta of 0.83. The stock’s 50-day moving average price is $55.83 and its 200-day moving average price is $50.53.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

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

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 339,479 shares of company stock valued at $19,490,991 over the last 90 days. Company 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.