Baker Avenue Asset Management LP Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Baker Avenue Asset Management LP increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,235 shares of the network equipment provider’s stock after buying an additional 2,894 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Cisco Systems were worth $864,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the business. Waypoint Capital Advisors LLC grew its stake in shares of Cisco Systems by 2.9% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares during the period. Andina Capital Management LLC grew its stake in shares of Cisco Systems by 3.6% during the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after purchasing an additional 182 shares during the period. Meridian Financial Partners LLC grew its stake in shares of Cisco Systems by 3.8% during the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock worth $267,000 after purchasing an additional 185 shares during the period. Gleason Group Inc. grew its stake in shares of Cisco Systems by 0.9% during the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after purchasing an additional 193 shares during the period. Finally, Cassia Capital Partners LLC grew its stake in shares of Cisco Systems by 1.5% during the 3rd quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock worth $696,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Tigress Financial lifted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.32.

Cisco Systems Stock Up 1.0 %

NASDAQ CSCO opened at $58.63 on Tuesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $53.30 and its 200-day simple moving average is $49.42. The firm has a market cap of $233.98 billion, a PE ratio of 23.08, a P/E/G ratio of 4.81 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted 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 return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is currently owned by 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.