Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Hilltop Holdings Inc.

Hilltop Holdings Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 46.7% during the third quarter, Holdings Channel.com reports. The fund owned 122,957 shares of the network equipment provider’s stock after buying an additional 39,139 shares during the period. Hilltop Holdings Inc.’s holdings in Cisco Systems were worth $6,544,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. Summit Securities Group LLC purchased a new position in Cisco Systems during the second quarter valued at $25,000. West Financial Advisors LLC lifted its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares in the last quarter. Quarry LP boosted its holdings in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems during the 3rd quarter worth approximately $40,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CSCO shares. Wells Fargo & Company lifted their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Piper Sandler lifted their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. UBS Group upped their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Stock Up 0.4 %

Shares of Cisco Systems stock opened at $59.43 on Tuesday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.87. The company has a 50 day moving average of $55.83 and a 200 day moving average of $50.54. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $236.70 billion, a P/E ratio of 25.51, a P/E/G ratio of 4.41 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s 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 completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 4,881 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13. Following the completion of the transaction, the senior vice president now directly owns 51,931 shares in the company, valued at $3,101,838.63. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 344,360 shares of company stock valued at $19,782,533 over the last three months. 0.01% of the stock is owned by corporate insiders.

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.