Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Bank of Hawaii

Bank of Hawaii grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,133 shares of the network equipment provider’s stock after purchasing an additional 190 shares during the quarter. Bank of Hawaii’s holdings in Cisco Systems were worth $2,189,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its stake in shares of Cisco Systems by 226.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock worth $1,319,000 after buying an additional 18,339 shares during the period. Waverly Advisors LLC increased its position in shares of Cisco Systems by 62.0% in the 1st quarter. Waverly Advisors LLC now owns 88,995 shares of the network equipment provider’s stock valued at $4,442,000 after purchasing an additional 34,046 shares during the last quarter. Industrial Alliance Investment Management Inc. raised its holdings in shares of Cisco Systems by 3.3% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 9,100 shares of the network equipment provider’s stock valued at $454,000 after purchasing an additional 290 shares in the last quarter. Icon Wealth Advisors LLC lifted its position in shares of Cisco Systems by 3.2% during the 1st quarter. Icon Wealth Advisors LLC now owns 70,371 shares of the network equipment provider’s stock worth $3,512,000 after purchasing an additional 2,171 shares during the last quarter. Finally, Prudent Investors Network Inc. acquired a new position in shares of Cisco Systems during the first quarter worth $225,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.7 %

NASDAQ:CSCO opened at $58.55 on Monday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $55.02 and its 200-day simple moving average is $50.17. The firm has a market cap of $233.19 billion, a P/E ratio of 25.13, a PEG ratio of 4.37 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders 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 yield of 2.73%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group raised their price target on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $59.94.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 86,351 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the sale, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 342,858 shares of company stock valued at $19,661,157. Corporate insiders own 0.01% of the company’s stock.

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.