Klingenstein Fields & Co. LP Sells 250 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Klingenstein Fields & Co. LP lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,744 shares of the network equipment provider’s stock after selling 250 shares during the period. Klingenstein Fields & Co. LP’s holdings in Cisco Systems were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSCO. China Universal Asset Management Co. Ltd. lifted its stake in Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after purchasing an additional 18,339 shares during the last quarter. United Community Bank lifted its stake in Cisco Systems by 4.3% in the 1st quarter. United Community Bank now owns 52,843 shares of the network equipment provider’s stock valued at $2,637,000 after purchasing an additional 2,165 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Cisco Systems by 6.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,545,940 shares of the network equipment provider’s stock valued at $77,158,000 after purchasing an additional 93,653 shares during the last quarter. Wellington Shields & Co. LLC lifted its stake in Cisco Systems by 3.8% in the 1st quarter. Wellington Shields & Co. LLC now owns 29,921 shares of the network equipment provider’s stock valued at $1,493,000 after purchasing an additional 1,084 shares during the last quarter. Finally, Easterly Investment Partners LLC lifted its stake in Cisco Systems by 29.5% in the 1st quarter. Easterly Investment Partners LLC now owns 457,840 shares of the network equipment provider’s stock valued at $22,851,000 after purchasing an additional 104,317 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This trade 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 available through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction dated 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 directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last three months. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSCO. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Piper Sandler restated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Jefferies Financial Group decreased their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.74.

Cisco Systems Trading Up 0.4 %

CSCO opened at $55.74 on Monday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a market cap of $222.44 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 4.54 and a beta of 0.83. The company has a fifty day moving average price of $52.63 and a two-hundred day moving average price of $49.10.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year. Analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed 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 2.87%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 62.99%.

Cisco Systems Company Profile

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.