10,000 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by MQS Management LLC

MQS Management LLC acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the network equipment provider’s stock, valued at approximately $475,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CSCO. Summit Securities Group LLC acquired a new stake in Cisco Systems in the second quarter worth $25,000. Retirement Group LLC grew its position in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth about $36,000. Tidemark LLC bought a new stake in Cisco Systems in the 4th quarter valued at about $41,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Cisco Systems during the 1st quarter valued at about $41,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.7 %

Shares of NASDAQ:CSCO opened at $51.44 on Friday. The firm has a 50 day simple moving average of $48.43 and a 200 day simple moving average of $48.03. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $56.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The company has a market cap 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.

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

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.11%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly 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 have sold 70,529 shares of company stock worth $3,509,049 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CSCO. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, Jefferies Financial Group reduced their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average 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.