Gateway Investment Advisers LLC Has $69.19 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Gateway Investment Advisers LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,622,532 shares of the network equipment provider’s stock after buying an additional 53,069 shares during the period. Cisco Systems comprises 0.8% of Gateway Investment Advisers LLC’s holdings, making the stock its 28th largest position. Gateway Investment Advisers LLC’s holdings in Cisco Systems were worth $69,185,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Cisco Systems by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock valued at $20,568,578,000 after purchasing an additional 30,181,146 shares during the period. BlackRock Inc. raised its holdings in shares of Cisco Systems by 0.3% in the 1st quarter. BlackRock Inc. now owns 351,582,807 shares of the network equipment provider’s stock valued at $19,604,258,000 after purchasing an additional 1,178,419 shares during the period. State Street Corp raised its holdings in shares of Cisco Systems by 2.2% in the 1st quarter. State Street Corp now owns 190,142,222 shares of the network equipment provider’s stock valued at $10,602,330,000 after purchasing an additional 4,017,068 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Cisco Systems by 6.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock valued at $2,975,139,000 after acquiring an additional 3,087,294 shares during the period. Finally, Norges Bank bought a new position in Cisco Systems in the 4th quarter valued at about $2,492,430,000. 71.71% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Jeffery S. Sharritts sold 637 shares of Cisco Systems stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.69, for a total transaction of $28,467.53. Following the completion of the transaction, the executive vice president now owns 166,370 shares of the company’s stock, valued at $7,435,075.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Charles Robbins sold 12,716 shares of Cisco Systems stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $47.14, for a total transaction of $599,432.24. Following the completion of the transaction, the chief executive officer now owns 631,374 shares of the company’s stock, valued at $29,762,970.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffery S. Sharritts sold 637 shares of Cisco Systems stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $44.69, for a total transaction of $28,467.53. Following the transaction, the executive vice president now directly owns 166,370 shares of the company’s stock, valued at approximately $7,435,075.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,317 shares of company stock valued at $2,612,042. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $41.59 on Thursday. Cisco Systems, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $64.29. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 1.33. The firm has a market capitalization of $170.89 billion, a P/E ratio of 14.75, a P/E/G ratio of 2.15 and a beta of 0.96. The company’s 50 day moving average price is $45.13 and its two-hundred day moving average price is $47.62.

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

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Tuesday, October 4th. Cisco Systems’s payout ratio is currently 53.90%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CSCO shares. Jefferies Financial Group increased their price target on shares of Cisco Systems from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 18th. Piper Sandler increased their price target on shares of Cisco Systems from $43.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, August 18th. Evercore ISI increased their price target on shares of Cisco Systems from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, August 18th. Credit Suisse Group increased their price target on shares of Cisco Systems from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, August 18th. Finally, Cowen increased their price target on shares of Cisco Systems from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $54.10.

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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