Cisco Systems, Inc. $CSCO Shares Acquired by Korea Investment CORP

Korea Investment CORP increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,078,475 shares of the network equipment provider’s stock after acquiring an additional 110,896 shares during the period. Korea Investment CORP’s holdings in Cisco Systems were worth $189,973,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Legacy Financial Group Inc. lifted its position in shares of Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after purchasing an additional 169 shares in the last quarter. Capital Advantage Inc. lifted its position in shares of Cisco Systems by 1.0% during the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after purchasing an additional 172 shares in the last quarter. Avalon Trust Co lifted its position in shares of Cisco Systems by 5.4% during the first quarter. Avalon Trust Co now owns 3,433 shares of the network equipment provider’s stock worth $212,000 after purchasing an additional 177 shares in the last quarter. Rossmore Private Capital lifted its position in shares of Cisco Systems by 0.3% during the first quarter. Rossmore Private Capital now owns 69,220 shares of the network equipment provider’s stock worth $4,272,000 after purchasing an additional 181 shares in the last quarter. Finally, Hemington Wealth Management lifted its position in shares of Cisco Systems by 4.1% during the first quarter. Hemington Wealth Management now owns 4,803 shares of the network equipment provider’s stock worth $296,000 after purchasing an additional 189 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the topic of a number of recent research reports. CICC Research initiated coverage on shares of Cisco Systems in a research report on Monday, July 14th. They set an “outperform” rating and a $78.00 target price on the stock. Piper Sandler boosted their target price on shares of Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday. Wolfe Research started coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They issued a “peer perform” rating for the company. Evercore ISI lifted their price target on shares of Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a research note on Thursday. Finally, UBS Group lifted their price target on shares of Cisco Systems from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.53.

Cisco Systems Stock Down 4.5%

CSCO stock opened at $66.20 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. Cisco Systems, Inc. has a 1-year low of $47.85 and a 1-year high of $72.55. The firm has a fifty day moving average price of $67.98 and a two-hundred day moving average price of $63.38. The firm has a market cap of $262.15 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.83 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The firm had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is 62.60%.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president owned 174,669 shares of the company’s stock, valued at $11,447,806.26. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.01, for a total transaction of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,731 shares of company stock worth $5,021,519. 0.01% of the stock is owned by company insiders.

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.