Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Nicholas Hoffman & Company LLC.

Nicholas Hoffman & Company LLC. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 33,011 shares of the network equipment provider’s stock after acquiring an additional 837 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Cisco Systems were worth $1,568,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Cisco Systems in the 2nd quarter worth $25,000. Retirement Group LLC lifted its holdings in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Cisco Systems in the 2nd quarter worth $36,000. Tidemark LLC acquired a new position in Cisco Systems in the 4th quarter worth $41,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Cisco Systems in the 1st quarter worth $41,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,944 shares of company stock worth $3,566,120. 0.02% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CSCO shares. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Jefferies Financial Group cut their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Piper Sandler reiterated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.89.

Cisco Systems Stock Down 0.7 %

CSCO stock traded down $0.34 during midday trading on Thursday, reaching $49.36. The company had a trading volume of 3,646,944 shares, compared to its average volume of 19,560,752. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $57.47. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $198.86 billion, a P/E ratio of 16.73, a PEG ratio of 3.98 and a beta of 0.85. The company has a 50 day moving average of $47.79 and a two-hundred day moving average of $47.93.

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, topping 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 in the prior year, the business posted $1.01 EPS. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.24%. Cisco Systems’s payout ratio is presently 53.87%.

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.