Pathstone Holdings LLC Cuts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Pathstone Holdings LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 559,813 shares of the network equipment provider's stock after selling 12,163 shares during the quarter. Pathstone Holdings LLC's holdings in Cisco Systems were worth $29,784,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CSCO. Summit Securities Group LLC purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $25,000. Quarry LP boosted its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC grew its position in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Cisco Systems in the 2nd quarter valued at $36,000. Finally, Iron Horse Wealth Management LLC increased its stake in Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock worth $42,000 after purchasing an additional 766 shares during the period. Institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

Cisco Systems stock traded down $0.30 during trading hours on Tuesday, hitting $57.01. 17,474,825 shares of the stock traded hands, compared to its average volume of 19,158,156. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The stock has a market capitalization of $227.51 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 4.67 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm's 50 day moving average price is $54.52 and its 200-day moving average price is $49.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the prior year, the company earned $0.98 EPS. Cisco Systems's quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. Cisco Systems's payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. The trade was a 5.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the sale, the executive vice president now owns 219,100 shares in the company, valued at approximately $12,596,059. This represents a 20.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 329,898 shares of company stock worth $18,865,790 over the last quarter. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research analyst reports. Barclays upped their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a report on Thursday, November 14th. New Street Research raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 target price on the stock in a research report on Thursday, August 15th. Piper Sandler lifted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Jefferies Financial Group decreased their target price on Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.94.

About Cisco Systems

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.