Childress Capital Advisors LLC Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Childress Capital Advisors LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 18.0% in the 3rd quarter, Holdings Channel reports. The fund owned 22,153 shares of the network equipment provider’s stock after selling 4,855 shares during the quarter. Childress Capital Advisors LLC’s holdings in Cisco Systems were worth $1,179,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Cisco Systems by 16.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,288,768 shares of the network equipment provider’s stock worth $64,322,000 after purchasing an additional 177,588 shares during the period. Azzad Asset Management Inc. ADV lifted its holdings in Cisco Systems by 3.2% in the first quarter. Azzad Asset Management Inc. ADV now owns 38,156 shares of the network equipment provider’s stock valued at $1,904,000 after acquiring an additional 1,193 shares during the last quarter. Hudson Capital Management LLC grew its position in Cisco Systems by 4.1% in the first quarter. Hudson Capital Management LLC now owns 75,673 shares of the network equipment provider’s stock worth $3,777,000 after acquiring an additional 2,973 shares during the period. DMC Group LLC raised its position in Cisco Systems by 4.5% in the first quarter. DMC Group LLC now owns 17,988 shares of the network equipment provider’s stock valued at $898,000 after purchasing an additional 769 shares during the period. Finally, Kovack Advisors Inc. lifted its stake in shares of Cisco Systems by 15.7% in the 1st quarter. Kovack Advisors Inc. now owns 26,827 shares of the network equipment provider’s stock valued at $1,339,000 after purchasing an additional 3,638 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Evercore ISI increased their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Barclays decreased their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Jefferies Financial Group cut their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Trading Up 0.7 %

NASDAQ:CSCO opened at $55.68 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $57.06. The stock has a market cap of $222.20 billion, a P/E ratio of 21.92, a P/E/G ratio of 4.22 and a beta of 0.83. The stock has a 50-day simple moving average of $52.34 and a 200-day simple moving average of $48.95.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were paid a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.87%. Cisco Systems’s dividend payout ratio is presently 62.99%.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is currently owned by insiders.

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.