Jackson Square Capital LLC Acquires 13,855 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Jackson Square Capital LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 145.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,380 shares of the network equipment provider's stock after purchasing an additional 13,855 shares during the period. Jackson Square Capital LLC's holdings in Cisco Systems were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Summit Securities Group LLC acquired a new stake in Cisco Systems during the 2nd quarter worth $25,000. West Financial Advisors LLC grew its stake in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 309 shares during the period. Quarry LP increased its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Cisco Systems in the second quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock worth $42,000 after buying an additional 766 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 0.4 %

Shares of NASDAQ CSCO traded up $0.21 during mid-day trading on Thursday, hitting $58.08. The company had a trading volume of 17,877,979 shares, compared to its average volume of 18,980,061. 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 firm has a 50-day simple moving average of $53.00 and a two-hundred day simple moving average of $49.27. The company has a market capitalization of $231.78 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $58.30.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business's quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 EPS. On average, equities 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 dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.75%. Cisco Systems's dividend payout ratio is presently 62.99%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. New Street Research upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. Barclays reduced their price target on shares of Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 15th. Evercore ISI raised their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Friday, September 20th. Tigress Financial boosted their target price on Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $56.74.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares of the company's stock, valued at $8,181,307.80. The trade was 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 other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of the company's 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 owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.01% of the company's stock.

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.