Wright Investors Service Inc. Has $4.17 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Wright Investors Service Inc. trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,273 shares of the network equipment provider’s stock after selling 11,520 shares during the period. Cisco Systems comprises about 1.1% of Wright Investors Service Inc.’s investment portfolio, making the stock its 27th biggest position. Wright Investors Service Inc.’s holdings in Cisco Systems were worth $4,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gabelli Funds LLC lifted its holdings in shares of Cisco Systems by 1.6% during the 4th quarter. Gabelli Funds LLC now owns 38,730 shares of the network equipment provider’s stock worth $1,957,000 after acquiring an additional 620 shares during the period. Morningstar Investment Services LLC lifted its holdings in shares of Cisco Systems by 42.2% during the 4th quarter. Morningstar Investment Services LLC now owns 21,815 shares of the network equipment provider’s stock worth $1,101,000 after acquiring an additional 6,472 shares during the period. CenterBook Partners LP bought a new position in shares of Cisco Systems during the 4th quarter worth about $1,885,000. Waterloo Capital L.P. bought a new position in shares of Cisco Systems during the 4th quarter worth about $554,000. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Cisco Systems by 8.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 193,873 shares of the network equipment provider’s stock worth $9,794,000 after acquiring an additional 14,479 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of several analyst reports. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. 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 report on Thursday, August 15th. Barclays cut their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Piper Sandler reissued a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.00.

Cisco Systems Trading Up 0.6 %

Shares of NASDAQ:CSCO traded up $0.32 during trading on Friday, hitting $52.75. 11,728,606 shares of the company’s stock were exchanged, compared to its average volume of 19,368,709. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.58. The firm has a 50-day moving average price of $49.58 and a two-hundred day moving average price of $48.27. 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 firm has a market cap of $212.52 billion, a P/E ratio of 17.76, a PEG ratio of 4.11 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share. Equities analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s 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.