Clark Estates Inc. NY Sells 4,850 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Clark Estates Inc. NY decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,150 shares of the network equipment provider’s stock after selling 4,850 shares during the period. Clark Estates Inc. NY’s holdings in Cisco Systems were worth $3,201,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after purchasing an additional 288,775 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after buying an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after buying an additional 162,544 shares in the last quarter. Quintet Private Bank Europe S.A. grew its position in Cisco Systems by 17.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after acquiring an additional 92,179 shares during the period. Finally, IRON Financial LLC bought a new position in shares of Cisco Systems during the third quarter valued at $856,000. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems 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 transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 339,479 shares of company stock worth $19,490,991 in the last ninety days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.4 %

Shares of NASDAQ CSCO opened at $59.59 on Wednesday. The company’s 50 day simple moving average is $55.35 and its 200 day simple moving average is $50.32. 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, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.64. The firm has a market capitalization of $237.33 billion, a P/E ratio of 25.58, a P/E/G ratio of 4.38 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results 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. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. On average, analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current 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. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CSCO. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. UBS Group raised their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Wells Fargo & Company boosted their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Ten equities research 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 data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

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.