Tokio Marine Asset Management Co. Ltd. Acquires 7,545 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,428 shares of the network equipment provider’s stock after purchasing an additional 7,545 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Cisco Systems were worth $5,664,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $25,000. West Financial Advisors LLC raised its position in Cisco Systems by 116.6% during the 3rd 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 in the last quarter. Quarry LP lifted its holdings in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the second quarter valued at $36,000. Finally, Iron Horse Wealth Management LLC increased its stake in shares of Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 1.1 %

Shares of NASDAQ:CSCO traded down $0.66 during midday trading on Thursday, reaching $58.52. The company had a trading volume of 6,182,276 shares, compared to its average volume of 18,979,389. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The stock’s fifty day moving average price is $53.82 and its 200-day moving average price is $49.64. The stock has a market capitalization of $233.54 billion, a P/E ratio of 23.04, a PEG ratio of 4.86 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities research analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the business’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 owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI boosted their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. UBS Group raised their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday. Piper Sandler upped 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. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. Finally, Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Twelve 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.68.

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.