Fidelis Capital Partners LLC Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Fidelis Capital Partners LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,289 shares of the network equipment provider’s stock after buying an additional 6,120 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Cisco Systems were worth $2,675,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC grew its holdings in shares of Cisco Systems by 7,246.8% during the second quarter. Frank Rimerman Advisors LLC now owns 64,064 shares of the network equipment provider’s stock worth $3,044,000 after purchasing an additional 63,192 shares during the last quarter. Holderness Investments Co. boosted its stake in shares of Cisco Systems by 0.3% during the second quarter. Holderness Investments Co. now owns 85,215 shares of the network equipment provider’s stock worth $4,049,000 after buying an additional 283 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Cisco Systems by 27.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 220,894 shares of the network equipment provider’s stock worth $10,495,000 after buying an additional 47,590 shares during the last quarter. Westwood Holdings Group Inc. grew its position in Cisco Systems by 18.8% during the second quarter. Westwood Holdings Group Inc. now owns 223,121 shares of the network equipment provider’s stock worth $10,600,000 after buying an additional 35,302 shares during the period. Finally, Sompo Asset Management Co. Ltd. increased its stake in Cisco Systems by 19.9% in the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 100,010 shares of the network equipment provider’s stock valued at $4,751,000 after purchasing an additional 16,630 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last quarter. 0.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CSCO. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Rosenblatt Securities increased their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.11.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $51.97 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $54.58. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm has a market cap of $209.38 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83. The business has a 50 day moving average price of $48.52 and a two-hundred day moving average price of $48.05.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion for 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 was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

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.