Dunhill Financial LLC Boosts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Dunhill Financial LLC boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 145.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,654 shares of the network equipment provider’s stock after purchasing an additional 980 shares during the period. Dunhill Financial LLC’s holdings in Cisco Systems were worth $88,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares during the period. Morse Asset Management Inc bought a new position in shares of Cisco Systems in the 3rd quarter worth approximately $798,000. Citizens Financial Group Inc. RI raised its position in shares of Cisco Systems by 24.4% in 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 acquiring an additional 51,924 shares in the last quarter. HighVista Strategies LLC bought a new stake in shares of Cisco Systems during the third quarter valued at approximately $1,698,000. Finally, Commerzbank Aktiengesellschaft FI grew its stake in Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were 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 in the company, valued at $6,501,957.20. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the company’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 completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,860 shares of company stock valued at $20,231,558 in the last 90 days. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CSCO shares. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Piper Sandler increased their price objective on shares of 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 shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley boosted their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Ten 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 company’s stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Stock Down 0.2 %

Cisco Systems stock opened at $59.89 on Friday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $60.23. The stock has a fifty day moving average of $56.53 and a 200 day moving average of $50.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a market cap of $238.53 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 4.44 and a beta of 0.85.

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

Cisco Systems Announces Dividend

The firm 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is presently 68.67%.

Cisco Systems 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.