Smith Chas P & Associates PA Cpas Reduces Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Smith Chas P & Associates PA Cpas lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 220,764 shares of the network equipment provider's stock after selling 38,046 shares during the period. Smith Chas P & Associates PA Cpas' holdings in Cisco Systems were worth $11,749,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CSCO. Bank of New York Mellon Corp grew its position in Cisco Systems by 2.7% during the 2nd 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 acquiring an additional 1,853,598 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider's stock valued at $2,261,185,000 after purchasing an additional 1,530,468 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 valued at $1,254,739,000 after purchasing an additional 4,843,146 shares during the period. Swedbank AB purchased a new stake in shares of Cisco Systems in the 1st quarter worth about $840,538,000. Finally, Price T Rowe Associates Inc. MD lifted 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 valued at $691,678,000 after purchasing an additional 2,906,357 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. Needham & Company LLC reiterated a "hold" rating on shares of Cisco Systems in a report on Thursday, August 15th. Tigress Financial upped their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Monday. Finally, Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $56.21.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO traded up $0.02 on Monday, reaching $54.27. 11,428,597 shares of the company were exchanged, compared to its average volume of 19,122,215. 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 company has a 50-day moving average of $50.14 and a 200-day moving average of $48.39. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.58. The firm has a market cap of $218.64 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the prior year, the company earned $1.01 EPS. The firm's revenue was down 10.3% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. Cisco Systems's dividend payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated 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 directly owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 0.00 % decrease in their position. 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 shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company's stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company's stock.

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.