Aurora Investment Counsel Sells 410 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Aurora Investment Counsel decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,126 shares of the network equipment provider’s stock after selling 410 shares during the quarter. Aurora Investment Counsel’s holdings in Cisco Systems were worth $1,954,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of Cisco Systems by 24.3% in the 4th quarter. Jones Financial Companies Lllp now owns 34,944 shares of the network equipment provider’s stock worth $1,765,000 after acquiring an additional 6,838 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in Cisco Systems by 6.4% in the fourth quarter. CWA Asset Management Group LLC now owns 36,843 shares of the network equipment provider’s stock worth $1,861,000 after purchasing an additional 2,204 shares in the last quarter. Carmignac Gestion lifted its position in shares of Cisco Systems by 2.9% during the fourth quarter. Carmignac Gestion now owns 38,360 shares of the network equipment provider’s stock valued at $1,938,000 after buying an additional 1,098 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its holdings in shares of Cisco Systems by 5.7% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 110,785 shares of the network equipment provider’s stock valued at $5,597,000 after buying an additional 6,017 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its position in shares of Cisco Systems by 5.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,168,932 shares of the network equipment provider’s stock worth $160,094,000 after buying an additional 165,011 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Evercore ISI raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Barclays reduced their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Piper Sandler restated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.00.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $53.22 on Tuesday. 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’s 50 day simple moving average is $49.14 and its 200-day simple moving average is $48.16. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $54.58. The stock has a market capitalization of $214.41 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 4.11 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.01%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

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.