Sargent Investment Group LLC Buys 205 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sargent Investment Group LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,436 shares of the network equipment provider’s stock after buying an additional 205 shares during the quarter. Sargent Investment Group LLC’s holdings in Cisco Systems were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CSCO. Summit Securities Group LLC acquired a new stake in Cisco Systems during the 2nd quarter worth about $25,000. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC grew its holdings in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems in the second quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC lifted its position in shares of Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 2.0 %

Shares of Cisco Systems stock traded down $1.21 during trading on Thursday, reaching $57.97. The company’s stock had a trading volume of 13,558,733 shares, compared to its average volume of 19,008,850. The company has a market cap of $231.34 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 4.86 and a beta of 0.83. The company has a 50-day simple moving average of $53.82 and a two-hundred day simple moving average of $49.64. 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, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 in the last quarter. 0.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent analyst reports. Piper Sandler increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday. Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $55.00 to $66.00 in a research note on Monday. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.32.

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.