Principal Securities Inc. Has $2.72 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Principal Securities Inc. grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% in the third quarter, Holdings Channel.com reports. The fund owned 51,032 shares of the network equipment provider’s stock after buying an additional 1,907 shares during the period. Principal Securities Inc.’s holdings in Cisco Systems were worth $2,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CSCO. Bank of New York Mellon Corp raised its position in Cisco Systems by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after purchasing an additional 1,853,598 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after purchasing an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Swedbank AB acquired a new stake in Cisco Systems in the 1st quarter valued at $840,538,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Cisco Systems by 26.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after acquiring an additional 2,906,357 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $55.50 on Friday. The stock has a market capitalization of $221.49 billion, a P/E ratio of 21.85, a P/E/G ratio of 4.61 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The business has a 50-day moving average price of $52.63 and a two-hundred day moving average price of $49.09.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the business posted $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. Equities analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. Cisco Systems’s dividend payout ratio is presently 62.99%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Evercore ISI boosted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.74.

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.