Cisco Systems, Inc. (NASDAQ:CSCO) Position Raised by Tidemark LLC

Tidemark LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 40.9% during the third quarter, Holdings Channel reports. The fund owned 1,181 shares of the network equipment provider’s stock after purchasing an additional 343 shares during the quarter. Tidemark LLC’s holdings in Cisco Systems were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Swedbank AB acquired a new position in shares of Cisco Systems during the first quarter valued at approximately $840,538,000. Dimensional Fund Advisors LP increased its position in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after purchasing an additional 4,843,146 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after buying an additional 4,842,542 shares during the period. Natixis boosted its stake in Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after buying an additional 4,010,228 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Cisco Systems by 26.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after acquiring an additional 2,906,357 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CSCO shares. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $55.00 to $66.00 in a research report on Monday, November 11th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Piper Sandler lifted their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Stock Down 0.8 %

Shares of Cisco Systems stock opened at $57.46 on Monday. The business’s 50 day simple moving average is $54.18 and its 200 day simple moving average is $49.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.88. The firm has a market cap of $229.31 billion, a PE ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s payout ratio is presently 68.67%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This represents a 6.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 approximately $6,821,929.52. This represents a 5.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,924 shares of company stock worth $1,798,131 in the last 90 days. Company insiders own 0.01% of the company’s stock.

Cisco Systems 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.