Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by SRN Advisors LLC

SRN Advisors LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 36,392 shares of the network equipment provider’s stock after selling 11,748 shares during the period. Cisco Systems accounts for about 1.4% of SRN Advisors LLC’s portfolio, making the stock its 17th biggest holding. SRN Advisors LLC’s holdings in Cisco Systems were worth $1,729,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CSCO. Summit Securities Group LLC purchased a new position in Cisco Systems in the second quarter valued at $25,000. Quarry LP lifted 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 worth $31,000 after buying an additional 456 shares during the last quarter. Retirement Group LLC boosted its position in shares of Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems in the 2nd quarter valued at about $36,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the 1st quarter worth about $41,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 owns 135,544 shares in the company, valued at $6,821,929.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 in the last three months. 0.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.00.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $52.74 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a market cap of $212.48 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. The firm’s fifty day moving average price is $49.26 and its 200 day moving average price is $48.19. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.58.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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 business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Cisco Systems Company 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.