Strategic Investment Advisors MI Sells 45,331 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Strategic Investment Advisors MI reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 49.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,892 shares of the network equipment provider’s stock after selling 45,331 shares during the quarter. Strategic Investment Advisors MI’s holdings in Cisco Systems were worth $2,521,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. United Bank bought a new stake in shares of Cisco Systems during the 1st quarter valued at approximately $645,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cisco Systems by 32.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock valued at $236,593,000 after purchasing an additional 1,040,607 shares during the last quarter. Roundview Capital LLC grew its holdings in shares of Cisco Systems by 13.1% during the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock valued at $588,000 after purchasing an additional 1,221 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Cisco Systems by 21.5% during the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after purchasing an additional 2,079 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Cisco Systems by 8.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after purchasing an additional 182,857 shares during the last quarter. 72.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 5,060 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $47.95, for a total transaction of $242,627.00. Following the transaction, the senior vice president now owns 67,422 shares in the company, valued at $3,232,884.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 5,060 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $47.95, for a total transaction of $242,627.00. Following the transaction, the senior vice president now owns 67,422 shares in the company, valued at $3,232,884.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 13,616 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $50.00, for a total transaction of $680,800.00. Following the transaction, the chief financial officer now owns 452,315 shares in the company, valued at approximately $22,615,750. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,475 shares of company stock worth $7,464,194. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 0.0 %

Cisco Systems stock opened at $50.09 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.15. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The firm’s fifty day moving average is $50.06 and its 200 day moving average is $52.33. The company has a market capitalization of $203.54 billion, a PE ratio of 15.13, a PEG ratio of 2.40 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The company had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter in the previous year, the company earned $0.77 EPS. Cisco Systems’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.4 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $1.56 annualized dividend and a yield of 3.11%. Cisco Systems’s payout ratio is 47.13%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of Cisco Systems from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. Piper Sandler reduced their target price on shares of Cisco Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, November 16th. Tigress Financial boosted their target price on shares of Cisco Systems from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, September 22nd. Bank of America boosted their target price on shares of Cisco Systems from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, September 13th. Finally, Raymond James lowered shares of Cisco Systems from a “market perform” rating to an “underperform” rating in a report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.38.

Get Our Latest Stock Report on CSCO

Cisco Systems Company Profile

(Free Report)

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 and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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