Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Raised by Franklin Resources Inc.

Franklin Resources Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,214,461 shares of the network equipment provider's stock after purchasing an additional 1,195,469 shares during the period. Franklin Resources Inc. owned 0.46% of Cisco Systems worth $988,499,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth $25,000. West Financial Advisors LLC lifted its position in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock valued at $31,000 after purchasing an additional 309 shares during the period. Quarry LP boosted its holdings in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the 3rd quarter worth approximately $40,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 0.4 %

Shares of NASDAQ CSCO traded down $0.23 during trading on Friday, reaching $58.62. 13,868,085 shares of the stock were exchanged, compared to its average volume of 19,072,957. The company has a market capitalization of $233.47 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. The business's 50-day moving average price is $57.01 and its 200 day moving average price is $51.24. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analysts' expectations of $13.78 billion. During the same period in the prior year, the company posted $0.98 EPS. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's payout ratio is currently 68.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CSCO. Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Rosenblatt Securities lifted their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a report on Thursday, August 15th. Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. UBS Group boosted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Finally, 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 report on Thursday, August 15th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $59.94.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares of the company's stock, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last ninety days. Corporate insiders own 0.01% of the company's stock.

Cisco Systems 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.