Managed Asset Portfolios LLC Sells 3,064 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Managed Asset Portfolios LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 545,023 shares of the network equipment provider’s stock after selling 3,064 shares during the quarter. Cisco Systems accounts for approximately 4.1% of Managed Asset Portfolios LLC’s investment portfolio, making the stock its 5th largest position. Managed Asset Portfolios LLC’s holdings in Cisco Systems were worth $29,006,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Swedbank AB acquired a new stake in shares of Cisco Systems during the 1st quarter valued at $840,538,000. Dimensional Fund Advisors LP boosted its stake in shares of Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after purchasing an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Cisco Systems by 5,231.5% during the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after purchasing an additional 4,842,542 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after buying an additional 2,906,357 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Cisco Systems by 4,524.9% in the 3rd quarter. International Assets Investment Management LLC now owns 2,087,369 shares of the network equipment provider’s stock valued at $1,110,900,000 after buying an additional 2,042,236 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CSCO. Piper Sandler boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Bank of America increased their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Morgan Stanley lifted their target price on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Rosenblatt Securities raised their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $59.94.

Insider Buying and Selling

In related news, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the sale, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 342,858 shares of company stock worth $19,661,157 in the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 1.7 %

Shares of NASDAQ CSCO opened at $58.55 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $233.19 billion, a PE ratio of 25.13, a P/E/G ratio of 4.28 and a beta of 0.83. The company’s fifty day simple moving average is $55.02 and its 200 day simple moving average is $50.15.

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 analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 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, January 22nd. Stockholders of record on Friday, January 3rd will be 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 is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

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.