Pacer Advisors Inc. Purchases 37,424 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Pacer Advisors Inc. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 682,132 shares of the network equipment provider’s stock after buying an additional 37,424 shares during the quarter. Pacer Advisors Inc.’s holdings in Cisco Systems were worth $36,303,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Summit Securities Group LLC bought a new stake in Cisco Systems in the second quarter valued at about $25,000. Quarry LP boosted its holdings in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC grew its stake in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems in the 2nd quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC lifted its position in shares of Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.7 %

CSCO opened at $58.55 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The company has a market cap of $233.66 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $55.02 and a 200 day simple moving average of $50.13.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. Cisco Systems’s payout ratio is currently 68.67%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSCO. Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Ten 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares in the company, 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 sold a total of 342,858 shares of company stock worth $19,661,157 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

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.