Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 366,082 shares of the network equipment provider’s stock after selling 35,930 shares during the period. Cisco Systems accounts for approximately 1.5% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 22nd biggest holding. Franklin Street Advisors Inc. NC’s holdings in Cisco Systems were worth $15,610,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Cisco Systems by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock worth $20,568,578,000 after acquiring an additional 30,181,146 shares in the last quarter. BlackRock Inc. grew its stake in Cisco Systems by 0.3% during the 1st quarter. BlackRock Inc. now owns 351,582,807 shares of the network equipment provider’s stock worth $19,604,258,000 after buying an additional 1,178,419 shares during the last quarter. State Street Corp grew its stake in Cisco Systems by 2.2% during the 1st quarter. State Street Corp now owns 190,142,222 shares of the network equipment provider’s stock worth $10,602,330,000 after buying an additional 4,017,068 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cisco Systems by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after buying an additional 3,087,294 shares during the last quarter. Finally, Norges Bank purchased a new position in Cisco Systems during the 4th quarter worth approximately $2,492,430,000. Institutional investors and hedge funds own 71.71% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Prat Bhatt sold 3,453 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $48.39, for a total value of $167,090.67. Following the completion of the sale, the senior vice president now owns 75,443 shares of the company’s stock, valued at $3,650,686.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Prat Bhatt sold 3,453 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $48.39, for a total value of $167,090.67. Following the completion of the sale, the senior vice president now owns 75,443 shares of the company’s stock, valued at $3,650,686.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffery S. Sharritts sold 637 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $44.69, for a total value of $28,467.53. Following the completion of the transaction, the executive vice president now owns 166,370 shares in the company, valued at approximately $7,435,075.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,317 shares of company stock valued at $2,612,042. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group raised their price target on Cisco Systems from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. TheStreet downgraded Cisco Systems from a “b” rating to a “c+” rating in a research note on Wednesday, June 15th. Piper Sandler lifted their target price on Cisco Systems from $43.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. Rosenblatt Securities lifted their target price on Cisco Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. Finally, UBS Group lifted their target price on Cisco Systems from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $54.10.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $41.59 on Thursday. Cisco Systems, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $64.29. The stock has a market cap of $170.89 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The business has a fifty day moving average of $45.13 and a 200-day moving average of $47.62. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.21.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The company had revenue of $13.10 billion during the quarter, compared to analysts’ expectations of $12.78 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 3.1 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Tuesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.90%.

Cisco Systems Profile

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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