Palisade Asset Management LLC Buys 679 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Palisade Asset Management LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% in the third quarter, HoldingsChannel reports. The fund owned 369,840 shares of the network equipment provider’s stock after acquiring an additional 679 shares during the period. Cisco Systems accounts for approximately 1.9% of Palisade Asset Management LLC’s investment portfolio, making the stock its 12th largest holding. Palisade Asset Management LLC’s holdings in Cisco Systems were worth $19,683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB bought a new stake in shares of Cisco Systems in the first quarter valued at approximately $840,538,000. Dimensional Fund Advisors LP raised its holdings in Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after acquiring an additional 4,842,542 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Cisco Systems by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after purchasing an additional 2,906,357 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Cisco Systems by 4,524.9% in the third quarter. International Assets Investment Management LLC now owns 2,087,369 shares of the network equipment provider’s stock worth $1,110,900,000 after purchasing an additional 2,042,236 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In other news, CEO Charles Robbins sold 171,744 shares of the 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 completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now owns 46,017 shares in the company, valued at approximately $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 quarter, insiders sold 342,858 shares of company stock valued at $19,661,157. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 1.7 %

NASDAQ:CSCO opened at $58.55 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a market cap of $233.19 billion, a PE ratio of 25.13, a P/E/G ratio of 4.28 and a beta of 0.83. The firm’s 50 day simple moving average is $55.02 and its 200 day simple moving average is $50.13.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results 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. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. Cisco Systems’s payout ratio is 68.67%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CSCO shares. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Piper Sandler increased their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Bank of America boosted their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. UBS Group raised their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average target price of $59.94.

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.