Radnor Capital Management LLC Buys 15,405 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Radnor Capital Management LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 29.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,274 shares of the network equipment provider's stock after purchasing an additional 15,405 shares during the quarter. Radnor Capital Management LLC's holdings in Cisco Systems were worth $3,634,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Summit Securities Group LLC purchased a new position in Cisco Systems in the second quarter valued at about $25,000. Quarry LP increased its stake in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC raised its holdings in Cisco Systems by 116.6% in the third 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 in the last quarter. Hobbs Group Advisors LLC bought a new position in Cisco Systems during the 2nd quarter valued at $36,000. Finally, Iron Horse Wealth Management LLC grew its holdings in Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock worth $42,000 after acquiring an additional 766 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of CSCO traded up $1.71 during midday trading on Wednesday, reaching $57.87. The stock had a trading volume of 19,500,418 shares, compared to its average volume of 18,981,730. The firm's 50 day moving average price is $52.84 and its 200-day moving average price is $49.21. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $58.08. The company has a market capitalization of $230.94 billion, a P/E ratio of 22.11, a P/E/G ratio of 4.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted 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. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business's revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. Cisco Systems's dividend payout ratio (DPR) is 62.99%.

Analysts Set New Price Targets

Several brokerages have recently commented on CSCO. Jefferies Financial Group reduced 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 report on Thursday, August 15th. Piper Sandler reiterated a "neutral" rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Citigroup upgraded Cisco Systems from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $52.00 to $62.00 in a research note on Wednesday, October 16th. New Street Research upgraded shares of 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. Finally, Tigress Financial lifted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a report on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has an average 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 Cisco Systems stock in a transaction that occurred on 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 transaction, the chief executive officer now directly 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 legal filing with the SEC, which is available at this link. In related 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 sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 47,182 shares of the company's stock, valued at approximately $2,376,085.52. The trade was 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 corporate insiders.

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.