Staley Capital Advisers Inc. Trims Stake in Cisco Systems, Inc. $CSCO

Staley Capital Advisers Inc. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the 3rd quarter, Holdings Channel reports. The fund owned 608,090 shares of the network equipment provider’s stock after selling 7,519 shares during the quarter. Cisco Systems accounts for 1.7% of Staley Capital Advisers Inc.’s holdings, making the stock its 19th biggest holding. Staley Capital Advisers Inc.’s holdings in Cisco Systems were worth $41,606,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Cisco Systems by 1.3% during the second quarter. Vanguard Group Inc. now owns 393,989,568 shares of the network equipment provider’s stock valued at $27,334,996,000 after buying an additional 5,039,714 shares during the period. State Street Corp boosted its stake in Cisco Systems by 0.6% during the second quarter. State Street Corp now owns 194,695,250 shares of the network equipment provider’s stock worth $13,507,956,000 after acquiring an additional 1,067,872 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cisco Systems by 1.2% in the second quarter. Geode Capital Management LLC now owns 99,252,395 shares of the network equipment provider’s stock worth $6,864,058,000 after purchasing an additional 1,157,704 shares during the period. Norges Bank purchased a new stake in Cisco Systems in the second quarter worth about $3,816,825,000. Finally, Invesco Ltd. increased its stake in shares of Cisco Systems by 3.0% during the second quarter. Invesco Ltd. now owns 48,531,251 shares of the network equipment provider’s stock valued at $3,367,098,000 after purchasing an additional 1,414,105 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jeetendra I. Patel sold 11,248 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $854,848.00. Following the transaction, the insider directly owned 262,776 shares in the company, valued at $19,970,976. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kristina M. Johnson sold 13,481 shares of Cisco Systems stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $77.13, for a total value of $1,039,789.53. Following the completion of the sale, the director directly owned 61,630 shares of the company’s stock, valued at $4,753,521.90. The trade was a 17.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 75,677 shares of company stock worth $5,811,211. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Bank of America raised their price objective on Cisco Systems from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Melius Research raised their price target on Cisco Systems from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Wall Street Zen upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Saturday. DZ Bank raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Finally, Citic Securities lifted their target price on shares of Cisco Systems from $75.00 to $90.00 in a report on Monday, November 17th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.55.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $79.46 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The firm has a market cap of $313.86 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.87. The business has a 50-day simple moving average of $77.82 and a two-hundred day simple moving average of $73.75. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $88.18.

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

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be given a $0.42 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Cisco Systems’s payout ratio is presently 57.54%.

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.