Heritage Wealth Partners LLC Takes $208,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Heritage Wealth Partners LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 3,913 shares of the network equipment provider’s stock, valued at approximately $208,000.

Other institutional investors have also recently bought and sold shares of the company. Mountain Pacific Investment Advisers LLC grew its stake in shares of Cisco Systems by 5.7% in the 3rd quarter. Mountain Pacific Investment Advisers LLC now owns 5,072 shares of the network equipment provider’s stock valued at $270,000 after buying an additional 274 shares in the last quarter. Somerset Trust Co lifted its stake in Cisco Systems by 0.6% in the third quarter. Somerset Trust Co now owns 106,707 shares of the network equipment provider’s stock valued at $5,679,000 after acquiring an additional 686 shares during the last quarter. Enterprise Bank & Trust Co increased its stake in shares of Cisco Systems by 5.2% during the 3rd quarter. Enterprise Bank & Trust Co now owns 6,968 shares of the network equipment provider’s stock worth $371,000 after purchasing an additional 345 shares during the last quarter. Adirondack Trust Co. raised its holdings in shares of Cisco Systems by 2.5% during the 3rd quarter. Adirondack Trust Co. now owns 34,788 shares of the network equipment provider’s stock valued at $1,851,000 after purchasing an additional 842 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in shares of Cisco Systems by 30.1% in the 3rd quarter. Wedmont Private Capital now owns 35,576 shares of the network equipment provider’s stock valued at $1,868,000 after purchasing an additional 8,227 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Barclays reduced their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.00.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $53.56 on Thursday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $54.58. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $49.87 and a 200 day simple moving average of $48.34. The firm has a market capitalization of $215.78 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 4.11 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 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.99%. Cisco Systems’s dividend payout ratio is currently 53.87%.

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.