Sienna Gestion Buys 230,284 Shares of Cisco Systems, Inc. $CSCO

Sienna Gestion increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 102.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,172 shares of the network equipment provider’s stock after acquiring an additional 230,284 shares during the period. Cisco Systems comprises approximately 2.0% of Sienna Gestion’s portfolio, making the stock its 6th biggest holding. Sienna Gestion’s holdings in Cisco Systems were worth $28,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of CSCO. Avantax Advisory Services Inc. lifted its stake in shares of Cisco Systems by 1.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock valued at $29,163,000 after purchasing an additional 4,525 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cisco Systems by 6.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock worth $218,236,000 after buying an additional 205,043 shares during the last quarter. Greystone Financial Group LLC bought a new stake in shares of Cisco Systems during the 3rd quarter worth about $8,563,000. Jones Financial Companies Lllp increased its holdings in shares of Cisco Systems by 8.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock valued at $46,165,000 after acquiring an additional 56,057 shares during the last quarter. Finally, Rockland Trust Co. raised its stake in shares of Cisco Systems by 213.8% in the 3rd quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock valued at $1,402,000 after acquiring an additional 13,966 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSCO has been the topic of several analyst reports. Evercore upgraded Cisco Systems from an “in-line” rating to an “outperform” rating and increased their price target for the company from $80.00 to $100.00 in a report on Monday, January 26th. Barclays boosted their price objective on shares of Cisco Systems from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Cisco Systems in a report on Thursday, February 12th. Citigroup raised their target price on shares of Cisco Systems from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, UBS Group boosted their target price on shares of Cisco Systems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.55.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, Director Michael D. Capellas sold 10,850 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $77.13, for a total value of $836,860.50. Following the completion of the sale, the director owned 146,368 shares in the company, valued at approximately $11,289,363.84. This trade represents a 6.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 2,179 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total value of $169,395.46. Following the sale, the senior vice president directly owned 28,807 shares in the company, valued at $2,239,456.18. The trade was a 7.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 75,677 shares of company stock valued at $5,811,211 over the last quarter. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 1.7%

Shares of CSCO stock opened at $78.64 on Monday. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $88.18. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The firm has a market cap of $310.62 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 2.97 and a beta of 0.87. The stock has a 50 day moving average of $77.96 and a 200-day moving average of $74.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The business had revenue of $15.35 billion for the quarter, compared to the consensus estimate of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. Cisco Systems’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s payout ratio is presently 58.95%.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.