Sapient Capital LLC Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Sapient Capital LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,776 shares of the network equipment provider’s stock after acquiring an additional 839 shares during the period. Sapient Capital LLC’s holdings in Cisco Systems were worth $1,467,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its position in shares of Cisco Systems by 57.7% in the third quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock worth $273,000 after buying an additional 1,876 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Cisco Systems in the third quarter worth about $58,000. Fiduciary Alliance LLC boosted its position in shares of Cisco Systems by 14.8% in the third quarter. Fiduciary Alliance LLC now owns 11,029 shares of the network equipment provider’s stock worth $587,000 after buying an additional 1,425 shares during the period. CX Institutional boosted its holdings in Cisco Systems by 30.4% in the third quarter. CX Institutional now owns 124,809 shares of the network equipment provider’s stock valued at $6,642,000 after purchasing an additional 29,117 shares during the last quarter. Finally, Wesbanco Bank Inc. boosted its holdings in Cisco Systems by 2.5% in the third quarter. Wesbanco Bank Inc. now owns 394,968 shares of the network equipment provider’s stock valued at $21,020,000 after purchasing an additional 9,547 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % 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 valued at $20,349,721 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CSCO shares. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the company from $55.00 to $66.00 in a report on Monday, November 11th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $73.00 in a report on Monday, January 6th. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Wells Fargo & Company increased their price target on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Bank of America upped their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Cisco Systems Trading Down 0.6 %

Shares of NASDAQ CSCO opened at $62.43 on Wednesday. The company has a market cap of $248.64 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $63.25. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $59.78 and its 200 day simple moving average is $55.21.

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

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.