Impax Asset Management Group plc Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Impax Asset Management Group plc reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,179 shares of the network equipment provider's stock after selling 26,159 shares during the quarter. Impax Asset Management Group plc's holdings in Cisco Systems were worth $9,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Swedbank AB purchased a new position in Cisco Systems in the 1st quarter worth about $840,538,000. Dimensional Fund Advisors LP raised its position in Cisco Systems by 22.5% in the 2nd 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 during the last quarter. Pathway Financial Advisers LLC raised its position in Cisco Systems by 5,231.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider's stock worth $262,646,000 after buying an additional 4,842,542 shares during the last quarter. Natixis raised its position in Cisco Systems by 438.4% in the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider's stock worth $245,806,000 after buying an additional 4,010,228 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Cisco Systems by 26.5% in the 1st 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 during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company's stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company's stock, valued at $2,376,085.52. The trade was 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 link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last quarter. Company insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CSCO shares. Evercore ISI boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Barclays cut their price target on Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating for the company in a research note on Thursday, August 15th. Tigress Financial boosted 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. Citigroup upgraded Cisco Systems from a "neutral" rating to a "buy" rating and boosted their price target for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Finally, Piper Sandler restated a "neutral" rating and set a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. Thirteen research 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.com, Cisco Systems currently has an average rating of "Hold" and a consensus target price of $56.74.

Cisco Systems Price Performance

Shares of CSCO traded up $1.71 during mid-day trading on Wednesday, hitting $57.87. 20,400,031 shares of the stock were exchanged, compared to its average volume of 18,985,916. The company has a market cap of $230.94 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 4.60 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $58.08. The firm has a 50-day moving average of $52.84 and a two-hundred day moving average of $49.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. Cisco Systems's quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. Cisco Systems's payout ratio is 62.99%.

About Cisco Systems

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.