Creekside Partners Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Creekside Partners lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,139 shares of the network equipment provider’s stock after selling 847 shares during the quarter. Creekside Partners’ holdings in Cisco Systems were worth $646,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the second quarter valued at approximately $25,000. Quarry LP boosted its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems in the second quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in shares of Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after purchasing an additional 766 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $57.50 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The stock has a market capitalization of $229.47 billion, a P/E ratio of 24.68, a PEG ratio of 4.63 and a beta of 0.83. The company has a 50 day moving average price of $54.68 and a 200 day moving average price of $50.00.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the previous year, the company earned $0.98 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders 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 dividend on an annualized basis and a yield of 2.78%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. UBS Group boosted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Citigroup boosted their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley boosted their price objective 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. Finally, Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,628 shares of company stock worth $18,449,561. 0.01% of the stock is owned by company insiders.

Cisco Systems 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.