Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,834,269 shares of the network equipment provider’s stock after selling 688,212 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.85% of Cisco Systems worth $1,800,660,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC purchased a new position in Cisco Systems in the second quarter worth approximately $25,000. West Financial Advisors LLC grew its holdings in shares of Cisco Systems by 116.6% during the 3rd 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 period. Quarry LP increased its position in shares of Cisco Systems by 222.4% during the 2nd 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. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the 3rd quarter valued at about $40,000. Finally, Hobbs Group Advisors LLC acquired a new position in Cisco Systems in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 339,479 shares of company stock worth $19,490,991 in the last 90 days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $59.29 on Thursday. The company has a fifty day moving average of $55.53 and a two-hundred day moving average of $50.39. The company has a market capitalization of $236.14 billion, a PE ratio of 25.45, a P/E/G ratio of 4.38 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.87. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Analyst Ratings Changes

CSCO has been the subject of a number of recent analyst reports. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Piper Sandler boosted their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Morgan Stanley lifted their price objective on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, Tigress Financial raised their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.94.

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.