Mediolanum International Funds Ltd Sells 97,356 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mediolanum International Funds Ltd cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 646,830 shares of the network equipment provider’s stock after selling 97,356 shares during the period. Mediolanum International Funds Ltd’s holdings in Cisco Systems were worth $34,238,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of Cisco Systems in the 2nd quarter valued at $25,000. West Financial Advisors LLC raised its position in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Quarry LP raised its position in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. Retirement Group LLC raised its position in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems during the 2nd quarter worth $36,000. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last 90 days. 0.02% of the stock is currently owned by insiders.

Cisco Systems Trading Up 0.8 %

Shares of NASDAQ CSCO traded up $0.42 during midday trading on Friday, hitting $56.38. 2,280,501 shares of the company traded hands, compared to its average volume of 19,031,176. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a 50-day moving average price of $51.85 and a 200 day moving average price of $48.77. The firm has a market cap of $227.14 billion, a P/E ratio of 18.84, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Analyst Ratings Changes

A number of brokerages have weighed in on CSCO. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Barclays reduced their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.74.

About Cisco Systems

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.