Montchanin Asset Management LLC Has $209,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Montchanin Asset Management LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,400 shares of the network equipment provider’s stock after selling 760 shares during the quarter. Montchanin Asset Management LLC’s holdings in Cisco Systems were worth $209,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of Cisco Systems by 0.9% in the second quarter. Raymond James & Associates now owns 13,305,175 shares of the network equipment provider’s stock valued at $632,129,000 after purchasing an additional 117,351 shares during the last quarter. Signet Investment Advisory Group Inc. boosted its position in shares of Cisco Systems by 3.1% in the second quarter. Signet Investment Advisory Group Inc. now owns 75,205 shares of the network equipment provider’s stock valued at $3,573,000 after acquiring an additional 2,260 shares during the period. Marietta Wealth Management LLC bought a new position in Cisco Systems during the second quarter worth about $404,000. OFI Invest Asset Management raised its stake in Cisco Systems by 39,018.3% in the 2nd quarter. OFI Invest Asset Management now owns 278,522 shares of the network equipment provider’s stock worth $12,347,000 after purchasing an additional 277,810 shares in the last quarter. Finally, Oakworth Capital Inc. grew its position in shares of Cisco Systems by 3.2% during the 2nd quarter. Oakworth Capital Inc. now owns 30,933 shares of the network equipment provider’s stock worth $1,470,000 after purchasing an additional 956 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $46.00 to $58.00 in a report on Friday. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday. Oppenheimer lifted their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Finally, Piper Sandler restated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.89.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the transaction, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at $2,430,013.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,090 shares of company stock worth $1,522,231. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 1.9 %

Shares of CSCO stock traded up $0.93 on Friday, hitting $49.46. The stock had a trading volume of 27,424,886 shares, compared to its average volume of 19,935,170. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.19. The stock has a market cap of $199.27 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The business has a 50 day moving average of $46.74 and a 200 day moving average of $47.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the business posted $1.01 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.23%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

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.