Cisco Systems, Inc. (NASDAQ:CSCO) is Seizert Capital Partners LLC’s 6th Largest Position

Seizert Capital Partners LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,071,153 shares of the network equipment provider’s stock after acquiring an additional 24,841 shares during the quarter. Cisco Systems comprises approximately 2.6% of Seizert Capital Partners LLC’s portfolio, making the stock its 6th largest holding. Seizert Capital Partners LLC’s holdings in Cisco Systems were worth $57,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Summit Securities Group LLC bought a new stake in shares of Cisco Systems in the second quarter worth $25,000. Quarry LP grew its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC increased its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems in the 2nd quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in shares of Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler upped their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Tigress Financial lifted their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Rosenblatt Securities upped their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $59.42.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at $14,659,200. The trade was a 7.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,924 shares of company stock valued at $1,798,131 over the last 90 days. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $57.46 on Friday. The stock has a 50 day moving average price of $54.18 and a 200-day moving average price of $49.78. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The stock has a market cap of $229.31 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.