Cisco Systems, Inc. (NASDAQ:CSCO) is Keene & Associates Inc.’s 10th Largest Position

Keene & Associates Inc. boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 74,341 shares of the network equipment provider’s stock after purchasing an additional 1,529 shares during the quarter. Cisco Systems makes up 3.0% of Keene & Associates Inc.’s portfolio, making the stock its 10th biggest holding. Keene & Associates Inc.’s holdings in Cisco Systems were worth $3,956,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in shares of Cisco Systems during the second quarter valued at approximately $25,000. Quarry LP boosted its position in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC increased its holdings in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Retirement Group LLC boosted its position in shares of Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems in the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock opened at $56.28 on Thursday. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.06. The firm has a market cap of $226.74 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 4.22 and a beta of 0.83. 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 firm has a 50-day simple moving average of $51.85 and a two-hundred day simple moving average of $48.77.

Cisco Systems (NASDAQ:CSCO) last posted its 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. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on CSCO shares. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $62.00 in a research note on Wednesday, October 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average price target of $56.74.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% 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.