Parkside Financial Bank & Trust Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Parkside Financial Bank & Trust lowered its position in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 6.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,970 shares of the network equipment provider’s stock after selling 1,412 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Cisco Systems were worth $851,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cordant Inc. acquired a new position in Cisco Systems in the first quarter valued at about $28,000. Advanced Research Investment Solutions LLC lifted its position in Cisco Systems by 564.6% in the first quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock valued at $30,000 after buying an additional 463 shares during the last quarter. Conrad Siegel Investment Advisors Inc. acquired a new position in Cisco Systems in the first quarter valued at about $33,000. Evolution Advisers Inc. lifted its position in Cisco Systems by 48.2% in the first quarter. Evolution Advisers Inc. now owns 781 shares of the network equipment provider’s stock valued at $43,000 after buying an additional 254 shares during the last quarter. Finally, PYA Waltman Capital LLC lifted its position in Cisco Systems by 445.4% in the first quarter. PYA Waltman Capital LLC now owns 769 shares of the network equipment provider’s stock valued at $43,000 after buying an additional 628 shares during the last quarter. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Piper Sandler upped their target price on shares of Cisco Systems from $43.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. Jefferies Financial Group increased their price target on shares of Cisco Systems from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Citigroup increased their price target on shares of Cisco Systems from $40.00 to $44.00 and gave the stock a “sell” rating in a research report on Thursday, August 18th. Barclays cut shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $56.00 to $46.00 in a research report on Wednesday. Finally, Raymond James reduced their price target on shares of Cisco Systems from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $54.10.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $41.59 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $170.89 billion, a P/E ratio of 14.75, a P/E/G ratio of 2.11 and a beta of 0.96. The firm’s 50 day moving average is $45.13 and its two-hundred day moving average is $47.62. Cisco Systems, Inc. has a 52 week low of $40.82 and a 52 week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The firm had revenue of $13.10 billion during the quarter, compared to the consensus estimate of $12.78 billion. During the same period last year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 3.1 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 12,716 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $47.14, for a total value of $599,432.24. Following the completion of the sale, the chief executive officer now owns 631,374 shares of the company’s stock, valued at $29,762,970.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 12,716 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $47.14, for a total value of $599,432.24. Following the completion of the sale, the chief executive officer now owns 631,374 shares of the company’s stock, valued at $29,762,970.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jeffery S. Sharritts sold 637 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.69, for a total value of $28,467.53. Following the completion of the sale, the executive vice president now directly owns 166,370 shares of the company’s stock, valued at approximately $7,435,075.30. The disclosure for this sale can be found here. Insiders sold a total of 56,317 shares of company stock valued at $2,612,042 over the last three months. 0.02% of the stock is currently owned by company insiders.

About Cisco Systems

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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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