Van Cleef Asset Management Inc Has $1.48 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Van Cleef Asset Management Inc reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,111 shares of the network equipment provider’s stock after selling 319 shares during the period. Van Cleef Asset Management Inc’s holdings in Cisco Systems were worth $1,478,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CSCO. Summit Securities Group LLC purchased a new position in Cisco Systems during the second quarter valued at approximately $25,000. Retirement Group LLC boosted its stake 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 valued at $36,000 after buying an additional 263 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems in the second quarter worth $36,000. Tidemark LLC purchased a new position in Cisco Systems in the fourth quarter valued at about $41,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The disclosure for this sale can be found here. Insiders sold a total of 71,944 shares of company stock valued at $3,566,120 over the last three months. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CSCO shares. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. Rosenblatt Securities boosted their price objective 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. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $55.89.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $48.79 on Wednesday. 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 $56.97. The stock has a market capitalization of $196.57 billion, a P/E ratio of 16.43, a P/E/G ratio of 3.82 and a beta of 0.83. The business has a 50-day moving average price of $47.90 and a two-hundred day moving average price of $47.93.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping 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 business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.28%. Cisco Systems’s dividend 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.