Ossiam Sells 49,973 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Posted by Defense World Staff on Sep 10th, 2023

Ossiam decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 27.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,038 shares of the network equipment provider’s stock after selling 49,973 shares during the quarter. Ossiam’s holdings in Cisco Systems were worth $7,059,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Edgar Lomax Co. VA grew its position in shares of Cisco Systems by 164.5% during the 1st quarter. Edgar Lomax Co. VA now owns 1,187,178 shares of the network equipment provider’s stock worth $62,060,000 after buying an additional 738,345 shares during the period. Sand Hill Global Advisors LLC lifted its position in shares of Cisco Systems by 8.5% in the first quarter. Sand Hill Global Advisors LLC now owns 24,973 shares of the network equipment provider’s stock worth $1,305,000 after purchasing an additional 1,949 shares in the last quarter. Trek Financial LLC raised its position in Cisco Systems by 47.8% during the first quarter. Trek Financial LLC now owns 36,601 shares of the network equipment provider’s stock worth $1,913,000 after acquiring an additional 11,833 shares in the last quarter. United Bank raised its position in Cisco Systems by 4.5% during the first quarter. United Bank now owns 23,936 shares of the network equipment provider’s stock worth $1,251,000 after acquiring an additional 1,041 shares in the last quarter. Finally, Vancity Investment Management Ltd raised its position in Cisco Systems by 0.7% during the first quarter. Vancity Investment Management Ltd now owns 193,331 shares of the network equipment provider’s stock worth $10,106,000 after acquiring an additional 1,264 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Cisco Systems Trading Down 0.2 %

Shares of Cisco Systems stock opened at $56.67 on Friday. The firm’s 50 day moving average is $53.71 and its 200 day moving average is $50.89. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $58.19. The firm has a market capitalization of $230.93 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.06 by $0.08. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The business had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.05 billion. During the same period last year, the company earned $0.74 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts forecast that Cisco Systems, Inc. will post 3.58 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.56 annualized dividend and a yield of 2.75%. Cisco Systems’s dividend payout ratio is presently 50.81%.

Insider Buying and Selling

In other news, CFO Richard Scott Herren sold 2,600 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $55.14, for a total value of $143,364.00. Following the transaction, the chief financial officer now owns 278,658,408 shares in the company, valued at approximately $15,365,224,617.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Prat Bhatt sold 608 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $50.61, for a total value of $30,770.88. Following the transaction, the senior vice president now owns 45,092 shares in the company, valued at approximately $2,282,106.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 2,600 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $55.14, for a total transaction of $143,364.00. Following the transaction, the chief financial officer now owns 278,658,408 shares in the company, valued at approximately $15,365,224,617.12. The disclosure for this sale can be found here. Insiders have sold a total of 64,820 shares of company stock worth $3,459,946 in the last ninety days. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Cisco Systems in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Evercore ISI upped their price target on shares of Cisco Systems from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, August 17th. Citigroup increased their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Jefferies Financial Group increased their price objective on shares of Cisco Systems from $54.00 to $59.50 and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, Rosenblatt Securities increased their price objective on shares of Cisco Systems from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.23.

View Our Latest Research Report on CSCO

Cisco Systems Company Profile

(Free Report)

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.