STF Management LP Has $3.07 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

STF Management LP lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,562 shares of the network equipment provider’s stock after selling 3,246 shares during the quarter. Cisco Systems comprises about 1.3% of STF Management LP’s investment portfolio, making the stock its 19th biggest position. STF Management LP’s holdings in Cisco Systems were worth $3,067,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Cisco Systems by 1,096.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after buying an additional 2,663,676 shares during the last quarter. Marcum Wealth LLC grew its position in Cisco Systems by 4.0% in the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after purchasing an additional 943 shares during the last quarter. Inscription Capital LLC raised its position in shares of Cisco Systems by 49.4% during the first quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after buying an additional 15,198 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new stake in Cisco Systems during the fourth quarter worth about $117,000. Finally, Valmark Advisers Inc. grew its position in Cisco Systems by 4.7% during the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock worth $1,941,000 after buying an additional 1,820 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Barclays decreased their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Jefferies Financial Group cut their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Stock Up 0.4 %

Shares of Cisco Systems stock opened at $49.80 on Monday. The firm has a market cap of $200.63 billion, a PE ratio of 16.77, a P/E/G ratio of 3.87 and a beta of 0.83. The business’s 50 day simple moving average is $48.05 and its 200 day simple moving average is $47.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.47.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS 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 net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the 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 completion of the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

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.