Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Reduced by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 166,195 shares of the network equipment provider's stock after selling 10,622 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Cisco Systems were worth $8,845,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider's stock valued at $36,847,000 after acquiring an additional 288,775 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider's stock valued at $12,573,000 after purchasing an additional 51,924 shares during the last quarter. Valmark Advisers Inc. raised its stake in Cisco Systems by 4.7% during the 2nd quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider's stock valued at $1,941,000 after purchasing an additional 1,820 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Cisco Systems by 2.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 38,053 shares of the network equipment provider's stock valued at $1,899,000 after buying an additional 889 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in Cisco Systems by 8.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,262,765 shares of the network equipment provider's stock valued at $59,994,000 after buying an additional 97,087 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.14 during midday trading on Monday, reaching $56.62. The company's stock had a trading volume of 6,100,185 shares, compared to its average volume of 19,117,301. The stock has a market cap of $228.11 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. 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 business has a 50-day moving average price of $51.17 and a 200-day moving average price of $48.60. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.06.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analysts' expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business's quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 earnings per share. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current 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 paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.83%. Cisco Systems's dividend payout ratio is currently 53.87%.

Insider Activity

In related 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 sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company's stock, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 in the last quarter. 0.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CSCO has been the topic of several analyst reports. HSBC raised shares of Cisco Systems from a "hold" rating to a "buy" rating and boosted their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. Evercore ISI increased their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Hsbc Global Res raised shares of Cisco Systems to a "strong-buy" rating in a report on Friday, August 16th. Finally, Piper Sandler restated a "neutral" rating and set a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $56.74.

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.

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