Gateway Investment Advisers LLC Grows Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Gateway Investment Advisers LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,622,532 shares of the network equipment provider’s stock after purchasing an additional 53,069 shares during the quarter. Cisco Systems comprises about 0.8% of Gateway Investment Advisers LLC’s portfolio, making the stock its 28th biggest position. Gateway Investment Advisers LLC’s holdings in Cisco Systems were worth $69,185,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Old Port Advisors lifted its stake in Cisco Systems by 0.4% during the first quarter. Old Port Advisors now owns 54,035 shares of the network equipment provider’s stock valued at $3,008,000 after purchasing an additional 195 shares during the last quarter. Diligent Investors LLC boosted its stake in Cisco Systems by 0.7% in the 1st quarter. Diligent Investors LLC now owns 27,490 shares of the network equipment provider’s stock worth $1,533,000 after purchasing an additional 198 shares during the period. Baldwin Brothers LLC MA boosted its stake in Cisco Systems by 26.1% in the 1st quarter. Baldwin Brothers LLC MA now owns 965 shares of the network equipment provider’s stock worth $54,000 after purchasing an additional 200 shares during the period. Madison Wealth Partners Inc lifted its holdings in shares of Cisco Systems by 5.1% in the first quarter. Madison Wealth Partners Inc now owns 4,231 shares of the network equipment provider’s stock valued at $236,000 after purchasing an additional 206 shares in the last quarter. Finally, TCM Advisors LLC boosted its position in shares of Cisco Systems by 0.9% in the first quarter. TCM Advisors LLC now owns 22,633 shares of the network equipment provider’s stock worth $1,262,000 after buying an additional 207 shares during the period. 71.71% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 2.3 %

Cisco Systems stock opened at $41.59 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.43. The business’s 50-day simple moving average is $45.13 and its 200-day simple moving average is $47.62. The firm has a market capitalization of $170.89 billion, a PE ratio of 14.75, a PEG ratio of 2.15 and a beta of 0.96. Cisco Systems, Inc. has a 52 week low of $40.82 and a 52 week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $13.10 billion for the quarter, compared to analyst estimates of $12.78 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 22.91%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 3.1 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Tuesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.90%.

Analyst Ratings Changes

Several brokerages have recently commented on CSCO. Rosenblatt Securities raised their target price on Cisco Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $51.00 to $54.00 in a research report on Friday, August 19th. Piper Sandler raised their target price on Cisco Systems from $43.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Evercore ISI raised their target price on Cisco Systems from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Finally, Cowen increased their price objective on Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and a consensus target price of $54.10.

Insider Buying and Selling

In related news, SVP Prat Bhatt sold 19,168 shares of Cisco Systems stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $848,759.04. Following the sale, the senior vice president now directly owns 38,158 shares of the company’s stock, valued at $1,689,636.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cisco Systems news, EVP Jeffery S. Sharritts sold 12,838 shares of Cisco Systems stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $47.86, for a total transaction of $614,426.68. Following the sale, the executive vice president now directly owns 167,532 shares of the company’s stock, valued at $8,018,081.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prat Bhatt sold 19,168 shares of Cisco Systems stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total value of $848,759.04. Following the sale, the senior vice president now directly owns 38,158 shares in the company, valued at $1,689,636.24. The disclosure for this sale can be found here. Insiders have sold a total of 56,317 shares of company stock valued at $2,612,042 over the last three months. 0.02% of the stock is owned by corporate insiders.

About Cisco Systems

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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