Swedbank AB Acquires 52,711 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Swedbank AB lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,029,594 shares of the network equipment provider's stock after purchasing an additional 52,711 shares during the quarter. Cisco Systems accounts for about 0.6% of Swedbank AB's portfolio, making the stock its 29th biggest position. Swedbank AB owned about 0.22% of Cisco Systems worth $480,555,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its holdings in shares of Cisco Systems by 1.6% during the fourth quarter. Chicago Partners Investment Group LLC now owns 20,845 shares of the network equipment provider's stock worth $1,070,000 after buying an additional 331 shares in the last quarter. Scarborough Advisors LLC bought a new position in Cisco Systems in the fourth quarter valued at approximately $68,000. ICA Group Wealth Management LLC grew its stake in Cisco Systems by 7.5% in the fourth quarter. ICA Group Wealth Management LLC now owns 4,129 shares of the network equipment provider's stock valued at $209,000 after purchasing an additional 287 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in Cisco Systems by 66.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,754 shares of the network equipment provider's stock valued at $190,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. grew its stake in Cisco Systems by 9.4% in the first quarter. Canandaigua National Bank & Trust Co. now owns 108,269 shares of the network equipment provider's stock valued at $5,404,000 after purchasing an additional 9,288 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Activity at Cisco Systems

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

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.19 during trading on Tuesday, reaching $54.08. 20,064,762 shares of the company's stock were exchanged, compared to its average volume of 19,122,350. 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, Inc. has a 1-year low of $44.50 and a 1-year high of $54.61. The company has a market cap of $217.88 billion, a P/E ratio of 18.27, a PEG ratio of 4.22 and a beta of 0.83. The firm's 50-day moving average price is $50.33 and its 200 day moving average price is $48.42.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business's revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the firm posted $1.01 earnings per share. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. Cisco Systems's dividend payout ratio is 53.87%.

Analyst Ratings Changes

Several research analysts have recently commented on CSCO shares. Jefferies Financial Group reduced their target price on Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Piper Sandler reiterated a "neutral" rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Barclays dropped their price target on Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday, August 15th. Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a report on Monday. Finally, HSBC raised Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $56.21.

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.