Main Street Financial Solutions LLC Buys 273 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Main Street Financial Solutions LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,073 shares of the network equipment provider’s stock after acquiring an additional 273 shares during the period. Main Street Financial Solutions LLC’s holdings in Cisco Systems were worth $1,228,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after purchasing an additional 1,853,598 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after buying an additional 1,530,468 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Swedbank AB bought a new position in Cisco Systems in the first quarter valued at about $840,538,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Cisco Systems by 26.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after acquiring an additional 2,906,357 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 value of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Stock Up 0.8 %

Shares of NASDAQ:CSCO opened at $59.18 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The business’s 50 day simple moving average is $53.64 and its two-hundred day simple moving average is $49.57. The firm has a market cap of $236.17 billion, a P/E ratio of 23.30, a PEG ratio of 4.86 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm posted $1.01 EPS. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. Cisco Systems’s dividend payout ratio is currently 62.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.32.

Cisco Systems 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.