Gilbert & Cook Inc. Sells 199 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Gilbert & Cook Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,367 shares of the network equipment provider’s stock after selling 199 shares during the period. Gilbert & Cook Inc.’s holdings in Cisco Systems were worth $1,137,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CSCO. Bank of New York Mellon Corp increased its position in shares of Cisco Systems by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after acquiring an additional 1,853,598 shares during the period. Legal & General Group Plc increased its position in shares of Cisco Systems by 3.3% in the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Cisco Systems by 22.5% in 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 during the period. Swedbank AB purchased a new position in shares of Cisco Systems in the first quarter valued at about $840,538,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after acquiring an additional 2,906,357 shares during the period. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CSCO shares. Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Bank of America boosted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.42.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,924 shares of company stock worth $1,798,131. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.8 %

Shares of NASDAQ CSCO opened at $57.46 on Friday. The firm’s 50 day moving average price is $54.18 and its 200-day moving average price is $49.78. The company has a market cap of $229.31 billion, a PE ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio is presently 68.67%.

About Cisco Systems

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.