Dean Investment Associates LLC Sells 3,681 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Dean Investment Associates LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,399 shares of the network equipment provider’s stock after selling 3,681 shares during the period. Cisco Systems makes up approximately 0.8% of Dean Investment Associates LLC’s investment portfolio, making the stock its 21st largest holding. Dean Investment Associates LLC’s holdings in Cisco Systems were worth $6,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lantz Financial LLC increased its stake in Cisco Systems by 1.2% during the 2nd quarter. Lantz Financial LLC now owns 60,993 shares of the network equipment provider’s stock worth $2,898,000 after purchasing an additional 736 shares in the last quarter. Park National Corp OH boosted its holdings in shares of Cisco Systems by 11.6% in the second quarter. Park National Corp OH now owns 1,100,398 shares of the network equipment provider’s stock valued at $52,280,000 after buying an additional 114,770 shares during the period. Ballast Inc. increased its position in shares of Cisco Systems by 18.9% during the second quarter. Ballast Inc. now owns 27,245 shares of the network equipment provider’s stock worth $1,294,000 after acquiring an additional 4,329 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its holdings in shares of Cisco Systems by 13.4% during the second quarter. Matrix Asset Advisors Inc. NY now owns 573,853 shares of the network equipment provider’s stock worth $27,264,000 after acquiring an additional 68,020 shares during the period. Finally, Chatham Capital Group Inc. lifted its position in Cisco Systems by 2.0% in the 2nd quarter. Chatham Capital Group Inc. now owns 157,368 shares of the network equipment provider’s stock valued at $7,477,000 after acquiring an additional 3,149 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Trading Down 0.2 %

Cisco Systems stock opened at $59.89 on Friday. The stock has a 50-day simple moving average of $56.53 and a 200 day simple moving average of $50.94. The stock has a market capitalization of $238.53 billion, a P/E ratio of 25.70, a PEG ratio of 4.44 and a beta of 0.85. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.67%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the 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 owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of 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 trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 351,860 shares of company stock worth $20,231,558 over the last three months. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of research reports. Morgan Stanley increased their target price on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Tigress Financial increased their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. 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 note on Thursday, November 14th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, August 15th. Finally, Citigroup boosted their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

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.