Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Joule Financial LLC

Joule Financial LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 143.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,353 shares of the network equipment provider's stock after acquiring an additional 13,164 shares during the period. Joule Financial LLC's holdings in Cisco Systems were worth $1,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Stonegate Investment Group LLC lifted its holdings in Cisco Systems by 2.5% in the third quarter. Stonegate Investment Group LLC now owns 1,528,051 shares of the network equipment provider's stock valued at $81,323,000 after acquiring an additional 37,845 shares during the last quarter. Claro Advisors LLC raised its position in Cisco Systems by 8.6% in the third quarter. Claro Advisors LLC now owns 36,278 shares of the network equipment provider's stock valued at $1,931,000 after purchasing an additional 2,876 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Cisco Systems by 24.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 29,515 shares of the network equipment provider's stock valued at $1,571,000 after purchasing an additional 5,755 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its position in shares of Cisco Systems by 4.7% during the third quarter. Onyx Bridge Wealth Group LLC now owns 8,452 shares of the network equipment provider's stock valued at $450,000 after acquiring an additional 381 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Cisco Systems by 3.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 707,113 shares of the network equipment provider's stock valued at $37,633,000 after acquiring an additional 21,686 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Up 0.6 %

CSCO traded up $0.36 on Friday, reaching $56.76. The company's stock had a trading volume of 17,678,257 shares, compared to its average volume of 19,181,732. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $56.87. The stock has a 50 day moving average of $51.17 and a two-hundred day moving average of $48.60. The company has a market capitalization of $228.68 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its 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. 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 the consensus estimate of $13.53 billion. During the same period last year, the firm posted $1.01 EPS. The company's revenue was down 10.3% on a year-over-year basis. As a group, analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 2.82%. Cisco Systems's dividend payout ratio (DPR) is 53.87%.

Analyst Ratings Changes

Several analysts recently weighed in on CSCO shares. Rosenblatt Securities lifted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a report on Thursday, August 15th. Piper Sandler reissued a "neutral" rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Tigress Financial raised their target price on Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday. Jefferies Financial Group cut their price target on shares of Cisco Systems from $56.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $56.74.

Insider Buying and Selling

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 value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company's stock, valued at approximately $33,794,278.35. This 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 accessible through this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of the firm's 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 owns 683,403 shares of the company's stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the company'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 sale, the senior vice president now directly owns 47,182 shares of the company's stock, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last 90 days. Company insiders own 0.02% of the company's stock.

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.