Bridgewater Associates LP Has $882,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Bridgewater Associates LP lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 75.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,572 shares of the network equipment provider’s stock after selling 50,332 shares during the quarter. Bridgewater Associates LP’s holdings in Cisco Systems were worth $882,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Cisco Systems by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after buying an additional 288,775 shares during the period. Citizens Financial Group Inc. RI raised its stake in Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after buying an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares during the period. Quintet Private Bank Europe S.A. increased its holdings in Cisco Systems by 17.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after purchasing an additional 92,179 shares in the last quarter. Finally, IRON Financial LLC bought a new position in Cisco Systems during the 3rd quarter worth about $856,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.1 %

Cisco Systems stock opened at $59.21 on Monday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.87. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a market capitalization of $235.82 billion, a P/E ratio of 25.41, a PEG ratio of 4.41 and a beta of 0.83. The stock has a 50-day simple moving average of $55.83 and a 200 day simple moving average of $50.54.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insiders Place Their Bets

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 339,479 shares of company stock worth $19,490,991 over the last three months. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley increased their target price on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Evercore ISI increased their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Wells Fargo & Company increased their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler increased their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

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.