Victory Capital Management Inc. Purchases 1,083,227 Shares of Cisco Systems, Inc. $CSCO

Victory Capital Management Inc. grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,235,392 shares of the network equipment provider’s stock after purchasing an additional 1,083,227 shares during the period. Cisco Systems comprises about 0.8% of Victory Capital Management Inc.’s holdings, making the stock its 16th largest holding. Victory Capital Management Inc.’s holdings in Cisco Systems were worth $1,257,026,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CSCO. Brighton Jones LLC boosted its stake in shares of Cisco Systems by 49.5% in the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after buying an additional 2,474 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Cisco Systems by 7.5% during the second quarter. Sivia Capital Partners LLC now owns 10,178 shares of the network equipment provider’s stock valued at $706,000 after buying an additional 712 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Cisco Systems by 3.9% in the second quarter. Schnieders Capital Management LLC. now owns 13,974 shares of the network equipment provider’s stock worth $969,000 after buying an additional 519 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Cisco Systems by 21.9% in the 2nd quarter. Assetmark Inc. now owns 118,695 shares of the network equipment provider’s stock valued at $8,235,000 after acquiring an additional 21,318 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,179 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total value of $169,395.46. Following the sale, the senior vice president directly owned 28,807 shares of the company’s stock, valued at $2,239,456.18. The trade was a 7.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kristina M. Johnson sold 13,481 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $77.13, for a total value of $1,039,789.53. Following the transaction, the director directly owned 61,630 shares of the company’s stock, valued at approximately $4,753,521.90. This trade represents a 17.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,677 shares of company stock valued at $5,811,211 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

Shares of CSCO opened at $79.42 on Tuesday. The company has a 50-day simple moving average of $77.85 and a two-hundred day simple moving average of $73.82. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The firm has a market capitalization of $313.70 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 3.00 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $88.18.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio (DPR) is 58.95%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CSCO shares. Bank of America lifted their price target on Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Citic Securities raised their price target on shares of Cisco Systems from $75.00 to $90.00 in a report on Monday, November 17th. Zacks Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. CICC Research raised their target price on Cisco Systems from $84.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, President Capital lowered their price target on Cisco Systems from $90.00 to $88.00 in a research report on Wednesday, December 24th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $89.55.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.