AHL Investment Management Inc. Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

AHL Investment Management Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 22.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,442 shares of the network equipment provider's stock after selling 10,730 shares during the period. Cisco Systems accounts for approximately 1.3% of AHL Investment Management Inc.'s holdings, making the stock its 28th largest position. AHL Investment Management Inc.'s holdings in Cisco Systems were worth $1,939,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Catalina Capital Group LLC grew its holdings in Cisco Systems by 22.9% during the third quarter. Catalina Capital Group LLC now owns 14,424 shares of the network equipment provider's stock valued at $768,000 after purchasing an additional 2,683 shares during the last quarter. Balentine LLC lifted its position in Cisco Systems by 121.7% during the 3rd quarter. Balentine LLC now owns 11,153 shares of the network equipment provider's stock worth $594,000 after acquiring an additional 6,123 shares during the last quarter. Long Run Wealth Advisors LLC boosted its holdings in Cisco Systems by 7.2% during the third quarter. Long Run Wealth Advisors LLC now owns 33,559 shares of the network equipment provider's stock valued at $1,786,000 after acquiring an additional 2,250 shares during the period. Cornerstone Capital Inc. increased its stake in shares of Cisco Systems by 1.8% in the third quarter. Cornerstone Capital Inc. now owns 378,394 shares of the network equipment provider's stock worth $20,138,000 after purchasing an additional 6,563 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in Cisco Systems by 25.6% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 70,224 shares of the network equipment provider's stock valued at $3,737,000 after purchasing an additional 14,322 shares during the period. Institutional investors own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company's stock in a transaction that occurred on 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 directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Charles Robbins sold 27,143 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the business's stock in a transaction that occurred on 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 transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last quarter. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

CSCO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a research report on Thursday, August 15th. Piper Sandler restated a "neutral" rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, September 20th. Finally, StockNews.com downgraded shares of Cisco Systems from a "buy" rating to a "hold" rating in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has a consensus rating of "Hold" and an average target price of $56.74.

Cisco Systems Price Performance

NASDAQ CSCO traded up $1.81 during trading on Wednesday, hitting $57.97. 10,547,038 shares of the company's stock were exchanged, compared to its average volume of 18,940,088. The stock's 50 day moving average price is $52.84 and its two-hundred day moving average price is $49.21. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $58.08. 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 $231.34 billion, a PE ratio of 22.11, a P/E/G ratio of 4.60 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company's revenue was down 10.3% on a year-over-year basis. Research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.76%. 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.