Aureus Asset Management LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Aureus Asset Management LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,983 shares of the network equipment provider’s stock after selling 850 shares during the period. Aureus Asset Management LLC’s holdings in Cisco Systems were worth $585,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CSCO. FMR LLC grew its stake in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after acquiring an additional 5,885,879 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cisco Systems by 22.5% during 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 acquiring an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in Cisco Systems by 5,231.5% during the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after acquiring an additional 4,842,542 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Cisco Systems by 87.9% during the third quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider’s stock valued at $294,923,000 after purchasing an additional 2,591,684 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Cisco Systems by 4,524.9% during the third quarter. International Assets Investment Management LLC now owns 2,087,369 shares of the network equipment provider’s stock valued at $1,110,900,000 after purchasing an additional 2,042,236 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CSCO. Wells Fargo & Company lifted their target price 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. Piper Sandler lifted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Trading Down 0.1 %

NASDAQ:CSCO opened at $59.21 on Monday. The company has a fifty day moving average of $55.83 and a 200 day moving average of $50.54. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.87. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $235.82 billion, a P/E ratio of 25.41, a P/E/G ratio of 4.41 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. On average, research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This represents a 9.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 339,479 shares of company stock valued at $19,490,991. 0.01% of the stock is currently owned by company insiders.

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.