Chesapeake Capital Corp IL Acquires Shares of 14,092 Cisco Systems, Inc. (NASDAQ:CSCO)

Chesapeake Capital Corp IL acquired a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,092 shares of the network equipment provider's stock, valued at approximately $750,000.

Several other hedge funds also recently modified their holdings of the company. Waypoint Capital Advisors LLC boosted its holdings in Cisco Systems by 2.9% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock valued at $346,000 after purchasing an additional 182 shares in the last quarter. Andina Capital Management LLC raised its position in shares of Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock worth $279,000 after buying an additional 182 shares during the period. Meridian Financial Partners LLC increased its holdings in Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider's stock valued at $267,000 after purchasing an additional 185 shares in the last quarter. Gleason Group Inc. increased its stake in Cisco Systems by 0.9% during the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider's stock worth $1,207,000 after buying an additional 193 shares during the period. Finally, Cassia Capital Partners LLC boosted its stake in shares of Cisco Systems by 1.5% during the 3rd quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider's stock valued at $696,000 after buying an additional 195 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now owns 293,184 shares of the company's stock, valued at approximately $14,659,200. The trade was a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,924 shares of company stock valued at $1,798,131 over the last three months. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Down 0.8 %

CSCO traded down $0.46 on Friday, hitting $57.46. 28,173,705 shares of the company were exchanged, compared to its average volume of 18,249,024. The stock's fifty day moving average is $54.18 and its 200-day moving average is $49.78. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38. The company has a market cap of $229.31 billion, a PE ratio of 24.66, a PEG ratio of 4.76 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for 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%. Cisco Systems's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CSCO. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Citigroup lifted their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday. New Street Research upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a "strong-buy" rating in a research report on Friday, August 16th. Finally, Piper Sandler lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.42.

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.