Victory Capital Management Inc. Has $1.26 Billion Stake in Cisco Systems, Inc. $CSCO

Victory Capital Management Inc. raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,235,392 shares of the network equipment provider’s stock after purchasing an additional 1,083,227 shares during the quarter. Cisco Systems accounts for about 0.8% of Victory Capital Management Inc.’s portfolio, making the stock its 16th biggest position. Victory Capital Management Inc. owned approximately 0.46% of Cisco Systems worth $1,257,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Bare Financial Services Inc boosted its holdings in Cisco Systems by 531.0% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock worth $25,000 after acquiring an additional 308 shares during the last quarter. Marquette Asset Management LLC bought a new stake in Cisco Systems in the 3rd quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Cisco Systems in the 2nd quarter worth about $28,000. Lowe Wealth Advisors LLC increased its stake in Cisco Systems by 96.2% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Cisco Systems by 115.7% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock worth $32,000 after buying an additional 251 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In related news, insider Jeetendra I. Patel sold 11,248 shares of Cisco Systems stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the completion of the sale, the insider owned 262,776 shares of the company’s stock, valued at approximately $19,970,976. This trade represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristina M. Johnson sold 13,481 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $77.13, for a total value of $1,039,789.53. Following the completion of the transaction, the director owned 61,630 shares in the company, valued at $4,753,521.90. This represents a 17.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 75,677 shares of company stock worth $5,811,211 in the last ninety days. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CSCO. Citic Securities lifted their price target on Cisco Systems from $75.00 to $90.00 in a report on Monday, November 17th. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Morgan Stanley raised their price objective on shares of Cisco Systems from $82.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Bank of America boosted their target price on shares of Cisco Systems from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Evercore upgraded shares of Cisco Systems from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $100.00 in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.55.

Cisco Systems Price Performance

Cisco Systems stock opened at $79.42 on Tuesday. The firm has a market capitalization of $313.70 billion, a P/E ratio of 27.87, a PEG ratio of 3.00 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $88.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The business has a fifty day moving average price of $77.85 and a 200-day moving average price of $73.82.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $15.35 billion for the quarter, compared to analysts’ expectations of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be paid a dividend of $0.42 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s dividend payout ratio is presently 58.95%.

About Cisco Systems

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.