Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Tevis Investment Management

Tevis Investment Management grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,116 shares of the network equipment provider’s stock after acquiring an additional 1,294 shares during the period. Cisco Systems comprises approximately 1.6% of Tevis Investment Management’s holdings, making the stock its 17th biggest holding. Tevis Investment Management’s holdings in Cisco Systems were worth $2,135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. Goldstone Financial Group LLC purchased a new position in Cisco Systems in the 3rd quarter worth approximately $547,000. Financial Advocates Investment Management raised its stake in shares of Cisco Systems by 1.3% during the third quarter. Financial Advocates Investment Management now owns 52,089 shares of the network equipment provider’s stock valued at $2,772,000 after purchasing an additional 648 shares during the period. Cornerstone Wealth Group LLC lifted its position in shares of Cisco Systems by 5.5% during the third quarter. Cornerstone Wealth Group LLC now owns 8,451 shares of the network equipment provider’s stock worth $450,000 after purchasing an additional 442 shares in the last quarter. Oak Harvest Investment Services boosted its stake in shares of Cisco Systems by 3.3% in the third quarter. Oak Harvest Investment Services now owns 125,345 shares of the network equipment provider’s stock valued at $6,671,000 after purchasing an additional 3,992 shares during the period. Finally, Seaside Wealth Management Inc. acquired a new stake in Cisco Systems during the 3rd quarter valued at $215,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.2 %

CSCO stock opened at $55.59 on Thursday. The stock has a market cap of $221.84 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The firm’s 50-day simple moving average is $52.44 and its 200 day simple moving average is $49.00. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. Cisco Systems’s dividend payout ratio is presently 62.99%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CSCO shares. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.74.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This trade 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 the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.01% of the company’s stock.

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.