Private Asset Management Inc. Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Private Asset Management Inc. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 18.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,088 shares of the network equipment provider’s stock after selling 21,406 shares during the period. Cisco Systems makes up approximately 0.9% of Private Asset Management Inc.’s holdings, making the stock its 28th biggest holding. Private Asset Management Inc.’s holdings in Cisco Systems were worth $4,816,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC increased its position in shares of Cisco Systems by 112,307.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares during the last quarter. Norges Bank bought a new position in Cisco Systems in the 4th quarter valued at $2,028,781,000. FMR LLC grew its position in Cisco Systems by 21.4% in the 1st quarter. FMR LLC now owns 54,468,315 shares of the network equipment provider’s stock valued at $2,847,331,000 after acquiring an additional 9,614,150 shares during the last quarter. Morgan Stanley grew its position in Cisco Systems by 17.4% in the 4th quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after acquiring an additional 9,160,347 shares during the last quarter. Finally, Providence Capital Advisors LLC grew its position in Cisco Systems by 5,222.3% in the 1st quarter. Providence Capital Advisors LLC now owns 7,883,401 shares of the network equipment provider’s stock valued at $150,806,000 after acquiring an additional 7,735,281 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSCO has been the topic of several research analyst reports. Raymond James upped their price objective on Cisco Systems from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. Piper Sandler increased their price target on Cisco Systems from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, August 21st. Morgan Stanley increased their price target on Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 17th. Finally, Oppenheimer reissued an “outperform” rating and set a $58.00 price target on shares of Cisco Systems in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $59.43.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 2,579 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total value of $130,626.35. Following the completion of the transaction, the chief financial officer now directly owns 281,493 shares in the company, valued at $14,257,620.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Richard Scott Herren sold 2,579 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total value of $130,626.35. Following the completion of the transaction, the chief financial officer now directly owns 281,493 shares in the company, valued at $14,257,620.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total value of $169,896.84. Following the completion of the transaction, the executive vice president now owns 169,396 shares of the company’s stock, valued at $9,523,443.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,438 shares of company stock worth $2,948,779. 0.02% of the stock is owned by insiders.

Cisco Systems Trading Up 0.2 %

Cisco Systems stock opened at $56.37 on Friday. The stock has a 50-day moving average of $54.00 and a two-hundred day moving average of $51.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 1.38. Cisco Systems, Inc. has a one year low of $38.60 and a one year high of $58.19. The stock has a market cap of $228.57 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 2.49 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.05 billion. During the same period last year, the business posted $0.74 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.58 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Tuesday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 50.81%.

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.