Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lessened by Maple Capital Management Inc.

Maple Capital Management Inc. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,814 shares of the network equipment provider’s stock after selling 778 shares during the period. Maple Capital Management Inc.’s holdings in Cisco Systems were worth $629,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Waypoint Capital Advisors LLC raised its holdings in shares of Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after acquiring an additional 182 shares in the last quarter. Meridian Financial Partners LLC raised its holdings in shares of Cisco Systems by 3.8% during the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock worth $267,000 after acquiring an additional 185 shares in the last quarter. Gleason Group Inc. raised its holdings in shares of Cisco Systems by 0.9% during the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after acquiring an additional 193 shares in the last quarter. Cassia Capital Partners LLC raised its holdings in shares of Cisco Systems by 1.5% during the third quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock worth $696,000 after acquiring an additional 195 shares in the last quarter. Finally, Cypress Wealth Services LLC raised its holdings in shares of Cisco Systems by 1.7% during the third quarter. Cypress Wealth Services LLC now owns 12,161 shares of the network equipment provider’s stock worth $647,000 after acquiring an additional 198 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CSCO shares. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Evercore ISI increased their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Barclays lowered their target price on shares of 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. Finally, Tigress Financial increased their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cisco Systems currently has an average rating of “Hold” and an average price target of $56.74.

Cisco Systems Stock Down 1.4 %

CSCO stock opened at $55.81 on Tuesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The company has a market cap of $224.85 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The business’s 50-day simple moving average is $51.41 and its 200 day simple moving average is $48.66. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its 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 return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the business earned $1.01 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.9 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, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insiders Place Their Bets

In other Cisco Systems 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 transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems 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 transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last quarter. Company insiders own 0.02% of the company’s stock.

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.