Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,646 shares of the network equipment provider’s stock after purchasing an additional 13,020 shares during the period. Ieq Capital LLC’s holdings in Cisco Systems were worth $11,766,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mcintyre Freedman & Flynn Investment Advisers Inc. grew its holdings in shares of Cisco Systems by 0.3% in the 4th quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after acquiring an additional 202 shares during the period. Baker Boyer National Bank grew its holdings in Cisco Systems by 2.6% in the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after purchasing an additional 210 shares during the last quarter. Holland Advisory Services Inc. increased its position in shares of Cisco Systems by 5.3% in the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock valued at $211,000 after buying an additional 213 shares in the last quarter. WealthPLAN Partners LLC raised its stake in shares of Cisco Systems by 3.0% during the 1st quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after buying an additional 213 shares during the last quarter. Finally, Ruedi Wealth Management Inc. boosted its position in shares of Cisco Systems by 17.6% in the 1st quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock worth $73,000 after buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $51.44 on Friday. The business’s fifty day moving average price is $48.43 and its 200 day moving average price is $48.03. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve 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 stock has a market capitalization of $207.24 billion, a P/E ratio of 17.32, a PEG ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping 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 business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on CSCO. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Barclays reduced their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Rosenblatt Securities upped their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus price target of $55.89.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the 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 of the company’s stock, valued at approximately $6,501,957.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is currently owned by corporate insiders.

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.