Proffitt & Goodson Inc. Has $914,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Proffitt & Goodson Inc. grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,171 shares of the network equipment provider’s stock after buying an additional 197 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Cisco Systems were worth $914,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after purchasing an additional 288,775 shares during the period. Citizens Financial Group Inc. RI grew its holdings in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares during the period. Quintet Private Bank Europe S.A. lifted its holdings in shares of Cisco Systems by 17.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after buying an additional 92,179 shares during the last quarter. Finally, IRON Financial LLC bought a new stake in shares of Cisco Systems in the third quarter valued at approximately $856,000. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CSCO. Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group reduced their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.74.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.0 %

Shares of Cisco Systems stock opened at $58.06 on Monday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.30. The stock has a market capitalization of $231.70 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 4.79 and a beta of 0.83. The company has a 50-day simple moving average of $53.30 and a 200 day simple moving average of $49.41. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 62.99%.

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.