Cisco Systems, Inc. (NASDAQ:CSCO) is Guinness Asset Management LTD's 7th Largest Position

Guinness Asset Management LTD raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,220,540 shares of the network equipment provider's stock after purchasing an additional 184,764 shares during the quarter. Cisco Systems accounts for 4.3% of Guinness Asset Management LTD's portfolio, making the stock its 7th biggest position. Guinness Asset Management LTD owned 0.10% of Cisco Systems worth $224,569,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Studio Investment Management LLC increased its stake in shares of Cisco Systems by 26.0% during the fourth quarter. Studio Investment Management LLC now owns 71,023 shares of the network equipment provider's stock valued at $3,588,000 after buying an additional 14,673 shares during the period. Oarsman Capital Inc. increased its stake in shares of Cisco Systems by 5.7% during the fourth quarter. Oarsman Capital Inc. now owns 45,629 shares of the network equipment provider's stock valued at $2,305,000 after buying an additional 2,463 shares during the period. SageView Advisory Group LLC grew its stake in Cisco Systems by 24.4% in the fourth quarter. SageView Advisory Group LLC now owns 109,858 shares of the network equipment provider's stock worth $5,739,000 after purchasing an additional 21,579 shares during the period. Winslow Asset Management Inc. grew its stake in Cisco Systems by 1.0% in the fourth quarter. Winslow Asset Management Inc. now owns 140,753 shares of the network equipment provider's stock worth $7,111,000 after purchasing an additional 1,420 shares during the period. Finally, FIL Ltd grew its stake in Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider's stock worth $955,961,000 after purchasing an additional 6,054,748 shares during the period. Institutional investors own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other news, 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 sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents 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. Also, SVP Maria Victoria Wong sold 3,379 shares of the business's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.02% of the company's stock.

Cisco Systems Stock Performance

CSCO stock traded up $0.71 during trading on Friday, reaching $54.25. The stock had a trading volume of 12,704,525 shares, compared to its average volume of 19,161,271. 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 stock's 50 day moving average is $50.14 and its two-hundred day moving average is $48.40. The firm has a market cap of $216.50 billion, a PE ratio of 21.36, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $54.58.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. The business's quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.95%. Cisco Systems's dividend payout ratio is currently 62.99%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CSCO shares. Rosenblatt Securities upped their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a research note on Thursday, August 15th. Barclays dropped their target price on Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. Needham & Company LLC reissued a "hold" rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Piper Sandler reissued a "neutral" rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $55.00.

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.