Mizuho Securities USA LLC Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Mizuho Securities USA LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 60.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,710 shares of the network equipment provider's stock after selling 188,499 shares during the period. Mizuho Securities USA LLC's holdings in Cisco Systems were worth $6,584,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CSCO. Summit Securities Group LLC bought a new position in Cisco Systems in the 2nd quarter valued at about $25,000. West Financial Advisors LLC raised its holdings in 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 buying an additional 309 shares during the last quarter. Quarry LP grew its stake in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 456 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Cisco Systems during the second quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC lifted 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 valued at $42,000 after purchasing an additional 766 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CSCO shares. Barclays raised their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a research note on Thursday. Piper Sandler raised their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday. Bank of America lifted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a report on Thursday. Citigroup raised their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Tigress Financial upped their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Eleven 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 stock. Based on data from MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $59.42.

Insider Activity at Cisco Systems

In related 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 value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. This trade represents a 7.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,924 shares of company stock valued at $1,798,131. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Down 0.8 %

NASDAQ:CSCO traded down $0.46 during trading hours on Friday, hitting $57.46. 28,173,705 shares of the company's stock traded hands, compared to its average volume of 18,249,024. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.88. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38. The stock's fifty day moving average price is $54.18 and its two-hundred day moving average price is $49.78. The firm has a market cap of $229.31 billion, a P/E ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83.

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

Cisco Systems Announces Dividend

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

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.