SP Asset Management LLC Has $222,000 Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

SP Asset Management LLC grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,670 shares of the network equipment provider’s stock after acquiring an additional 593 shares during the period. SP Asset Management LLC’s holdings in Cisco Systems were worth $222,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the 2nd quarter worth about $25,000. Retirement Group LLC raised its position in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems in the second quarter valued at approximately $36,000. Tidemark LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth $41,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Cisco Systems during the 1st quarter valued at $41,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,944 shares of company stock worth $3,566,120. 0.02% of the stock is owned by insiders.

Cisco Systems Price Performance

CSCO opened at $48.79 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company’s 50 day simple moving average is $47.90 and its 200-day simple moving average is $47.93. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $56.97. The stock has a market capitalization of $196.57 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 3.82 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. 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 3.28%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group cut their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Wells Fargo & Company boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $55.89.

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.