Perpetual Ltd Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Perpetual Ltd lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 33.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 37,051 shares of the network equipment provider’s stock after selling 19,035 shares during the quarter. Perpetual Ltd’s holdings in Cisco Systems were worth $1,972,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Baker Boyer National Bank lifted its stake in shares of Cisco Systems by 2.6% in the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after purchasing an additional 210 shares during the last quarter. Holland Advisory Services Inc. lifted its position in Cisco Systems by 5.3% in the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock valued at $211,000 after buying an additional 213 shares during the last quarter. WealthPLAN Partners LLC boosted its stake in Cisco Systems by 3.0% during the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after buying an additional 213 shares during the period. Ruedi Wealth Management Inc. raised its stake in shares of Cisco Systems by 17.6% in the 1st quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock valued at $73,000 after acquiring an additional 218 shares during the period. Finally, Bull Street Advisors LLC increased its holdings in Cisco Systems by 0.7% in the 1st quarter. Bull Street Advisors LLC now owns 32,388 shares of the network equipment provider’s stock valued at $1,616,000 after purchasing an additional 220 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company 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 stock an “outperform” rating in a research note on Friday, September 20th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 target price 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 raised their price target 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.00.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s 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 of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO opened at $53.54 on Friday. The firm has a fifty day moving average price of $49.87 and a 200 day moving average price of $48.34. The stock has a market cap of $215.70 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. As a group, sell-side analysts anticipate 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 paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.99%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Cisco Systems Company 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.