Stratos Investment Management LLC Sells 107,260 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Stratos Investment Management LLC cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 75.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,705 shares of the network equipment provider’s stock after selling 107,260 shares during the quarter. Stratos Investment Management LLC’s holdings in Cisco Systems were worth $1,900,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Cisco Systems by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after purchasing an additional 288,775 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after acquiring an additional 51,924 shares during the period. Valmark Advisers Inc. lifted its position in shares of Cisco Systems by 4.7% in the 2nd quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock worth $1,941,000 after acquiring an additional 1,820 shares during the period. Cornerstone Wealth Management LLC increased its position in shares of Cisco Systems by 2.4% during the first quarter. Cornerstone Wealth Management LLC now owns 38,053 shares of the network equipment provider’s stock valued at $1,899,000 after purchasing an additional 889 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in shares of Cisco Systems by 8.3% in the second quarter. EP Wealth Advisors LLC now owns 1,262,765 shares of the network equipment provider’s stock valued at $59,994,000 after purchasing an additional 97,087 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $56.76 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $56.87. 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 stock has a 50 day moving average price of $51.17 and a 200 day moving average price of $48.60. The stock has a market capitalization of $228.68 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. Analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued 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 2.82%. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 in the last ninety days. 0.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CSCO. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.74.

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.