Ascent Group LLC Purchases 1,119 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Ascent Group LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,613 shares of the network equipment provider’s stock after acquiring an additional 1,119 shares during the period. Ascent Group LLC’s holdings in Cisco Systems were worth $2,481,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CSCO. Apella Capital LLC raised its position in Cisco Systems by 22.7% in the second quarter. Apella Capital LLC now owns 10,952 shares of the network equipment provider’s stock worth $502,000 after acquiring an additional 2,027 shares during the period. Cullinan Associates Inc. raised its position in Cisco Systems by 6.8% in the second quarter. Cullinan Associates Inc. now owns 384,516 shares of the network equipment provider’s stock worth $18,268,000 after acquiring an additional 24,515 shares during the period. Matrix Trust Co increased its stake in shares of Cisco Systems by 1.3% in the second quarter. Matrix Trust Co now owns 22,024 shares of the network equipment provider’s stock worth $1,046,000 after purchasing an additional 285 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Cisco Systems by 14.0% in the second quarter. Linden Thomas Advisory Services LLC now owns 32,362 shares of the network equipment provider’s stock worth $1,538,000 after purchasing an additional 3,980 shares in the last quarter. Finally, Greenfield Savings Bank increased its stake in shares of Cisco Systems by 4.8% in the second quarter. Greenfield Savings Bank now owns 32,040 shares of the network equipment provider’s stock worth $1,522,000 after purchasing an additional 1,473 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 344,360 shares of company stock worth $19,782,533. 0.01% of the stock is currently owned by insiders.

Cisco Systems Trading Up 0.4 %

Shares of Cisco Systems stock opened at $59.43 on Tuesday. The firm has a market cap of $236.70 billion, a PE ratio of 25.51, a PEG ratio of 4.41 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.87. The company has a 50 day simple moving average of $55.83 and a two-hundred day simple moving average of $50.54.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. Analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. Cisco Systems’s payout ratio is 68.67%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Piper Sandler lifted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Morgan Stanley lifted their target price on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

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.