Staley Capital Advisers Inc. Sells 7,519 Shares of Cisco Systems, Inc. $CSCO

Staley Capital Advisers Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 608,090 shares of the network equipment provider’s stock after selling 7,519 shares during the period. Cisco Systems accounts for approximately 1.7% of Staley Capital Advisers Inc.’s portfolio, making the stock its 19th largest holding. Staley Capital Advisers Inc.’s holdings in Cisco Systems were worth $41,606,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Cisco Systems during the 2nd quarter valued at $3,816,825,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Cisco Systems by 413.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,393,371 shares of the network equipment provider’s stock worth $1,553,645,000 after buying an additional 18,030,441 shares in the last quarter. Franklin Resources Inc. boosted its stake in Cisco Systems by 46.2% during the second quarter. Franklin Resources Inc. now owns 40,836,858 shares of the network equipment provider’s stock valued at $2,833,261,000 after buying an additional 12,904,969 shares during the period. Laurel Wealth Advisors LLC grew its position in Cisco Systems by 6,778.2% during the second quarter. Laurel Wealth Advisors LLC now owns 6,810,012 shares of the network equipment provider’s stock worth $472,479,000 after buying an additional 6,711,004 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Cisco Systems by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 393,989,568 shares of the network equipment provider’s stock worth $27,334,996,000 after acquiring an additional 5,039,714 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 19,545 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the sale, the chief executive officer owned 671,095 shares of the company’s stock, valued at $51,003,220. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 2,179 shares of Cisco Systems stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total transaction of $169,395.46. Following the completion of the sale, the senior vice president owned 28,807 shares in the company, valued at approximately $2,239,456.18. This trade represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 75,677 shares of company stock worth $5,811,211. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CSCO shares. Evercore raised Cisco Systems from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $100.00 in a report on Monday, January 26th. Piper Sandler lifted their target price on shares of Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Citic Securities increased their price target on shares of Cisco Systems from $75.00 to $90.00 in a report on Monday, November 17th. BNP Paribas Exane lifted their price objective on shares of Cisco Systems from $86.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Bank of America upped their target price on shares of Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $89.55.

Cisco Systems Stock Up 1.7%

Shares of NASDAQ:CSCO opened at $79.46 on Monday. The stock has a market capitalization of $313.86 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 3.00 and a beta of 0.87. The stock’s 50-day moving average price is $77.82 and its 200-day moving average price is $73.75. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $88.18.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same period in the prior year, the business posted $0.94 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is currently 57.54%.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.