GUNN & Co INVESTMENT MANAGEMENT INC. Has $1.25 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

GUNN & Co INVESTMENT MANAGEMENT INC. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 91.0% during the third quarter, HoldingsChannel reports. The firm owned 23,392 shares of the network equipment provider’s stock after selling 235,418 shares during the quarter. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Cisco Systems were worth $1,245,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CSCO. Keene & Associates Inc. boosted its stake in Cisco Systems by 2.1% in the third quarter. Keene & Associates Inc. now owns 74,341 shares of the network equipment provider’s stock valued at $3,956,000 after buying an additional 1,529 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Cisco Systems by 0.9% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 116,477 shares of the network equipment provider’s stock valued at $6,197,000 after purchasing an additional 991 shares in the last quarter. Romano Brothers AND Company grew its holdings in shares of Cisco Systems by 3.0% during the 3rd quarter. Romano Brothers AND Company now owns 156,623 shares of the network equipment provider’s stock valued at $8,335,000 after purchasing an additional 4,512 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its position in Cisco Systems by 6.6% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 8,578 shares of the network equipment provider’s stock worth $456,000 after purchasing an additional 530 shares in the last quarter. Finally, Spectrum Asset Management Inc. NB CA lifted its stake in Cisco Systems by 0.5% in the 3rd quarter. Spectrum Asset Management Inc. NB CA now owns 64,170 shares of the network equipment provider’s stock valued at $3,415,000 after purchasing an additional 317 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $56.28 on Thursday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a 50 day moving average price of $51.85 and a two-hundred day moving average price of $48.77. The firm has a market capitalization of $226.74 billion, a P/E ratio of 18.95, a P/E/G ratio of 4.22 and a beta of 0.83.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’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 completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CSCO shares. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Tigress Financial upped their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI lifted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $56.74.

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.