First Horizon Advisors Inc. Purchases 54,551 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

First Horizon Advisors Inc. raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 839,789 shares of the network equipment provider's stock after buying an additional 54,551 shares during the quarter. Cisco Systems accounts for about 1.2% of First Horizon Advisors Inc.'s portfolio, making the stock its 11th largest position. First Horizon Advisors Inc.'s holdings in Cisco Systems were worth $44,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in shares of Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider's stock worth $3,340,764,000 after buying an additional 1,853,598 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider's stock worth $2,261,185,000 after buying an additional 1,530,468 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider's stock worth $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Swedbank AB bought a new position in shares of Cisco Systems during the first quarter worth about $840,538,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of 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 buying an additional 2,906,357 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.49 during mid-day trading on Wednesday, hitting $57.50. 15,287,236 shares of the stock were exchanged, compared to its average volume of 19,140,963. The stock has a market capitalization of $229.47 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 4.67 and a beta of 0.83. The firm's 50-day simple moving average is $54.52 and its 200 day simple moving average is $49.95. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company's stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares of the company's stock, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 321,628 shares of company stock valued at $18,449,561 in the last three months. Corporate insiders own 0.01% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Piper Sandler raised their price target on Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Hsbc Global Res upgraded Cisco Systems to a "strong-buy" rating in a research note on Friday, August 16th. Morgan Stanley raised their price target on Cisco Systems from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, November 14th. Finally, Citigroup lifted their target price on Cisco Systems from $62.00 to $64.00 and gave the stock 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.