31,900 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Acquired by HighVista Strategies LLC

HighVista Strategies LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 31,900 shares of the network equipment provider’s stock, valued at approximately $1,698,000.

Other hedge funds also recently modified their holdings of the company. Hilltop Holdings Inc. raised its position in Cisco Systems by 46.7% during the third quarter. Hilltop Holdings Inc. now owns 122,957 shares of the network equipment provider’s stock valued at $6,544,000 after buying an additional 39,139 shares during the period. Garden State Investment Advisory Services LLC grew its stake in Cisco Systems by 5.7% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 4,500 shares of the network equipment provider’s stock valued at $240,000 after acquiring an additional 244 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in shares of Cisco Systems by 0.6% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 2,333,566 shares of the network equipment provider’s stock valued at $124,192,000 after purchasing an additional 13,726 shares during the period. Coastwise Capital Group LLC lifted its position in shares of Cisco Systems by 1.2% in the third quarter. Coastwise Capital Group LLC now owns 25,470 shares of the network equipment provider’s stock worth $1,356,000 after purchasing an additional 304 shares in the last quarter. Finally, Ascent Group LLC boosted its holdings in shares of Cisco Systems by 2.5% during the third quarter. Ascent Group LLC now owns 46,613 shares of the network equipment provider’s stock worth $2,481,000 after purchasing an additional 1,119 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $59.43 on Tuesday. The company has a market capitalization of $236.70 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 4.41 and a beta of 0.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.87. The company’s fifty day moving average price is $55.83 and its 200 day moving average price is $50.54.

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

Cisco Systems Dividend Announcement

The business also recently disclosed 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 of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. Cisco Systems’s payout ratio is 68.67%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley upped their price target on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company lifted 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. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the transaction, the senior vice president now directly owns 51,931 shares of the company’s stock, valued at $3,101,838.63. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 344,360 shares of company stock valued at $19,782,533. 0.01% of the stock is owned by company insiders.

About Cisco Systems

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.