Rockland Trust Co. Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Rockland Trust Co. decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 43.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,164 shares of the network equipment provider’s stock after selling 7,951 shares during the period. Rockland Trust Co.’s holdings in Cisco Systems were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Swedbank AB purchased a new stake in shares of Cisco Systems during the first quarter worth about $840,538,000. FIL Ltd lifted its position in shares of Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after acquiring an additional 6,054,748 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of 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 acquiring an additional 4,843,146 shares during the last quarter. Natixis increased its position in shares of Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after purchasing an additional 4,010,228 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Cisco Systems by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after purchasing an additional 3,314,330 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The shares were 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 in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, 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 value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 0.6 %

NASDAQ:CSCO traded up $0.32 during trading hours on Friday, reaching $52.75. 11,728,606 shares of the stock were exchanged, compared to its average volume of 19,368,709. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $54.58. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $49.58 and a two-hundred day moving average of $48.28. The company has a market capitalization of $212.52 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 4.11 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.03%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group reduced their price objective 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. Finally, New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average target price of $55.00.

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.