M&G Plc Purchases 47,424 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

M&G Plc lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 951,247 shares of the network equipment provider’s stock after acquiring an additional 47,424 shares during the period. M&G Plc’s holdings in Cisco Systems were worth $50,416,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Cisco Systems by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after buying an additional 162,544 shares in the last quarter. Quintet Private Bank Europe S.A. lifted its holdings in Cisco Systems by 17.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after buying an additional 92,179 shares in the last quarter. Finally, IRON Financial LLC bought a new stake in Cisco Systems during the 3rd quarter valued at about $856,000. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. 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 hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. 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 hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Tigress Financial boosted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Piper Sandler restated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems 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 issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Stock Performance

CSCO opened at $57.87 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a fifty day moving average price of $53.00 and a 200 day moving average price of $49.27. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $58.08. The stock has a market cap of $230.94 billion, a P/E ratio of 22.78, a P/E/G ratio of 4.60 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the business posted $1.01 EPS. The business’s revenue was down 10.3% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 62.99%.

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.