Concurrent Investment Advisors LLC Acquires 12,210 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Concurrent Investment Advisors LLC lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 230,599 shares of the network equipment provider’s stock after buying an additional 12,210 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Cisco Systems were worth $12,272,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CSCO. Swedbank AB purchased a new position in shares of Cisco Systems in the 1st quarter worth approximately $840,538,000. Dimensional Fund Advisors LP grew its position in 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 valued at $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after buying an additional 4,842,542 shares in the last quarter. Natixis raised its stake in shares of Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after acquiring an additional 4,010,228 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Cisco Systems by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after purchasing an additional 2,906,357 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CSCO. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Piper Sandler reiterated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays dropped their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.74.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cisco Systems news, 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 transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This trade 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. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

CSCO stock traded up $0.98 on Wednesday, reaching $57.14. 2,055,667 shares of the company were exchanged, compared to its average volume of 18,900,594. The stock’s fifty day moving average price is $52.84 and its 200 day moving average price is $49.21. The firm has a market capitalization of $228.03 billion, a PE ratio of 22.11, a PEG ratio of 4.60 and a beta of 0.83. 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, Inc. has a 12 month low of $44.50 and a 12 month high of $57.74.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate 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 in the previous year, the business earned $1.01 EPS. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 62.99%.

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.