Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Ballast Inc.

by · The Markets Daily

Ballast Inc. increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,488 shares of the network equipment provider’s stock after buying an additional 243 shares during the quarter. Ballast Inc.’s holdings in Cisco Systems were worth $1,463,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $25,000. Quarry LP boosted its stake in 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 in the last quarter. 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 period. Retirement Group LLC lifted its holdings in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems during the second quarter valued at about $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $56.40 on Friday. The business’s 50-day simple moving average is $50.95 and its 200-day simple moving average is $48.56. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $56.58. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market cap of $227.23 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the company earned $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.84%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analysts Set New Price Targets

A number of analysts recently commented on CSCO shares. Piper Sandler reiterated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Rosenblatt Securities lifted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Barclays reduced their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average target price of $56.74.

Get Our Latest Stock Analysis on CSCO

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Company Profile

(Free Report)

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.

Featured Stories