Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Lifted by Fred Alger Management LLC

Fred Alger Management LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,069 shares of the network equipment provider’s stock after purchasing an additional 4,759 shares during the period. Fred Alger Management LLC’s holdings in Cisco Systems were worth $5,592,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new position in Cisco Systems during the second quarter valued at about $25,000. Quarry LP raised its stake in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC lifted its holdings in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the second quarter worth approximately $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the third quarter valued at approximately $40,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Down 0.1 %

NASDAQ CSCO opened at $59.21 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.87. The company has a market capitalization of $235.82 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 4.42 and a beta of 0.83. The stock’s 50 day moving average is $55.83 and its two-hundred day moving average is $50.53. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. Equities analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price target for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Morgan Stanley raised their target price on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 339,479 shares of company stock valued at $19,490,991. 0.01% of the stock is currently owned by insiders.

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.