Nicholas Hoffman & Company LLC. Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Nicholas Hoffman & Company LLC. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,011 shares of the network equipment provider’s stock after purchasing an additional 837 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Cisco Systems were worth $1,568,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after acquiring an additional 2,663,676 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Cisco Systems by 0.6% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock worth $13,683,000 after purchasing an additional 1,520 shares during the last quarter. Marcum Wealth LLC raised its position in shares of Cisco Systems by 4.0% during the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after purchasing an additional 943 shares during the last quarter. Inscription Capital LLC raised its position in shares of Cisco Systems by 49.4% during the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock worth $2,300,000 after purchasing an additional 15,198 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth about $117,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Down 0.7 %

Shares of CSCO traded down $0.34 during midday trading on Thursday, reaching $49.36. The stock had a trading volume of 3,646,944 shares, compared to its average volume of 19,560,752. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.47. The company’s fifty day simple moving average is $47.79 and its two-hundred day simple moving average is $47.93. The company has a market cap of $198.86 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 3.98 and a beta of 0.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

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

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.24%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Monday, May 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Rosenblatt Securities increased their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average price target of $55.89.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,944 shares of company stock worth $3,566,120. 0.02% of the stock is owned by company insiders.

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.