Townsquare Capital LLC Has $28.95 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Townsquare Capital LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 543,890 shares of the network equipment provider's stock after selling 27,231 shares during the quarter. Townsquare Capital LLC's holdings in Cisco Systems were worth $28,946,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CSCO. Charles Schwab Investment Management Inc. increased its position in Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider's stock worth $4,402,239,000 after buying an additional 1,677,383 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Cisco Systems by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider's stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares during the period. FMR LLC grew its position in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Legal & General Group Plc grew its position in shares of Cisco Systems by 3.3% in the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider's stock valued at $2,261,185,000 after purchasing an additional 1,530,468 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider's stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Evercore ISI upped their price target on 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 Cisco Systems to a "strong-buy" rating in a report on Friday, August 16th. UBS Group upped their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Bank of America lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Piper Sandler raised their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $59.94.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company's stock, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company's stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 339,479 shares of company stock valued at $19,490,991 in the last ninety days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

NASDAQ CSCO traded up $0.85 during trading on Wednesday, hitting $59.59. 14,209,693 shares of the stock traded hands, compared to its average volume of 21,276,684. The firm has a 50-day simple moving average of $55.35 and a 200-day simple moving average of $50.32. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.64. The company has a market capitalization of $237.33 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 4.38 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.

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.