TCW Group Inc. Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

TCW Group Inc. reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,171 shares of the network equipment provider’s stock after selling 15,324 shares during the quarter. TCW Group Inc.’s holdings in Cisco Systems were worth $2,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the second quarter valued at $25,000. West Financial Advisors LLC raised its stake 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 valued at $31,000 after purchasing an additional 309 shares during the last quarter. Quarry LP lifted its holdings in 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 purchasing an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems in the 3rd quarter valued at about $40,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In related news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on 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 sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 over the last 90 days. Company insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSCO. Tigress Financial raised 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. Barclays raised their price objective on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Morgan Stanley lifted their price target on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, UBS Group increased their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $58.85 on Friday. The firm’s fifty day simple moving average is $56.89 and its 200 day simple moving average is $51.19. 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, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. The firm has a market capitalization of $234.39 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 4.39 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

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.