Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,799 shares of the network equipment provider’s stock after buying an additional 375 shares during the quarter. Summit Trail Advisors LLC’s holdings in Cisco Systems were worth $4,034,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $25,000. Quarry LP raised its stake in shares of 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 period. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following 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 6.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,858 shares of company stock valued at $19,661,157. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $58.55 on Friday. The stock has a market cap of $233.19 billion, a PE ratio of 25.13, a P/E/G ratio of 4.28 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.38. The stock has a fifty day simple moving average of $55.02 and a 200-day simple moving average of $50.15.

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

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CSCO shares. HSBC raised 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 note on Friday, August 16th. Citigroup increased their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Tigress Financial increased their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $59.94.

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.