Birmingham Capital Management Co. Inc. AL Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Birmingham Capital Management Co. Inc. AL boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,350 shares of the network equipment provider’s stock after acquiring an additional 2,244 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Cisco Systems were worth $967,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $25,000. Quarry LP grew its holdings 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 purchasing an additional 456 shares during the last quarter. Retirement Group LLC grew its holdings in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems in the second quarter valued at $36,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the 1st quarter worth $41,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction 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 in the company, valued at $33,794,278.35. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Trading Down 0.9 %

Shares of CSCO stock opened at $52.74 on Wednesday. The firm’s 50-day simple moving average is $49.26 and its 200-day simple moving average is $48.19. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.58. The firm has a market cap of $212.48 billion, a P/E ratio of 17.76, a PEG ratio of 4.11 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.9 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 is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.03%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Ratings Changes

A number of brokerages recently commented on CSCO. Evercore ISI increased their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Rosenblatt Securities raised their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $55.00.

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.