IRON Financial LLC Acquires New Shares in Cisco Systems, Inc. (NASDAQ:CSCO)

IRON Financial LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,077 shares of the network equipment provider's stock, valued at approximately $856,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Cisco Systems during the second quarter worth $25,000. Quarry LP raised its stake in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC raised its stake in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Retirement Group LLC raised its stake in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider's stock worth $36,000 after acquiring an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the second quarter worth $36,000. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CSCO shares. Piper Sandler reiterated a "neutral" rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. New Street Research upgraded Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. HSBC upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Jefferies Financial Group lowered 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. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.74.

Cisco Systems Stock Down 1.5 %

Shares of NASDAQ:CSCO traded down $0.82 during trading on Thursday, hitting $54.77. 22,013,485 shares of the company's stock traded hands, compared to its average volume of 19,046,766. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.06. 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 market cap of $218.57 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company has a 50-day moving average price of $52.53 and a 200-day moving average price of $49.04.

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, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the previous year, the business posted $1.01 EPS. Cisco Systems's revenue for the quarter was down 10.3% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems's dividend payout ratio is presently 62.99%.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares of the company's stock, valued at approximately $8,181,307.80. This trade 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 this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares of the company's stock, valued at $8,181,307.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is owned by insiders.

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.