Meeder Asset Management Inc. Buys 899 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Meeder Asset Management Inc. lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 52.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,615 shares of the network equipment provider’s stock after acquiring an additional 899 shares during the quarter. Meeder Asset Management Inc.’s holdings in Cisco Systems were worth $139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Chesapeake Wealth Management raised its position in shares of Cisco Systems by 1.9% during the third quarter. Chesapeake Wealth Management now owns 18,992 shares of the network equipment provider’s stock worth $1,011,000 after acquiring an additional 348 shares during the last quarter. Caprock Group LLC raised its position in shares of Cisco Systems by 0.5% during the third quarter. Caprock Group LLC now owns 149,850 shares of the network equipment provider’s stock worth $7,975,000 after acquiring an additional 817 shares during the last quarter. Aviance Capital Partners LLC raised its position in shares of Cisco Systems by 2.7% during the third quarter. Aviance Capital Partners LLC now owns 87,924 shares of the network equipment provider’s stock worth $4,679,000 after acquiring an additional 2,346 shares during the last quarter. Baron Wealth Management LLC raised its position in shares of Cisco Systems by 78.3% during the third quarter. Baron Wealth Management LLC now owns 10,789 shares of the network equipment provider’s stock worth $574,000 after acquiring an additional 4,739 shares during the last quarter. Finally, New England Asset Management Inc. raised its position in shares of Cisco Systems by 0.6% during the third quarter. New England Asset Management Inc. now owns 141,896 shares of the network equipment provider’s stock worth $7,552,000 after acquiring an additional 840 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,628 shares of company stock worth $18,449,561 over the last ninety days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $57.50 on Thursday. The business’s fifty day simple moving average is $54.68 and its 200 day simple moving average is $50.00. The firm has a market capitalization of $229.47 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 4.67 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSCO. Citigroup raised their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Piper Sandler raised their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Rosenblatt Securities raised their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Jefferies Financial Group decreased their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

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.