Marco Investment Management LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Marco Investment Management LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311,588 shares of the network equipment provider’s stock after selling 6,542 shares during the quarter. Cisco Systems makes up approximately 1.4% of Marco Investment Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Marco Investment Management LLC’s holdings in Cisco Systems were worth $16,583,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CSCO. Summit Securities Group LLC acquired a new stake in Cisco Systems in the second quarter valued at approximately $25,000. West Financial Advisors LLC boosted its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Quarry LP boosted its stake in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 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. Finally, Iron Horse Wealth Management LLC boosted its stake in Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Bank of America raised their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Jefferies Financial Group lowered their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Piper Sandler lifted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Trading Up 1.7 %

Shares of Cisco Systems stock opened at $58.55 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a fifty day moving average price of $55.02 and a 200 day moving average price of $50.15. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The stock has a market cap of $233.19 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 4.28 and a beta of 0.83.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. Cisco Systems’s payout ratio is 68.67%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 Company 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.