Edgestream Partners L.P. Sells 9,177 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Edgestream Partners L.P. trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,372 shares of the network equipment provider’s stock after selling 9,177 shares during the quarter. Edgestream Partners L.P.’s holdings in Cisco Systems were worth $2,108,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Gilbert & Cook Inc. boosted its position in shares of Cisco Systems by 1.1% during the fourth quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after buying an additional 264 shares during the last quarter. Gryphon Financial Partners LLC boosted its holdings in shares of Cisco Systems by 104.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock valued at $1,177,000 after acquiring an additional 11,767 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Cisco Systems by 4.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 14,080 shares of the network equipment provider’s stock valued at $711,000 after acquiring an additional 645 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Cisco Systems by 0.6% in the fourth quarter. Pzena Investment Management LLC now owns 583,559 shares of the network equipment provider’s stock worth $29,481,000 after acquiring an additional 3,594 shares during the period. Finally, Tidemark LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $41,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.7 %

Shares of CSCO opened at $51.44 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $56.05. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $207.24 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83. The business’s 50 day moving average is $48.43 and its 200 day moving average is $48.03.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Maria Victoria Wong sold 638 shares of the company’s 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 sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 in the last quarter. 0.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays cut their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.89.

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.