AXQ Capital LP Invests $707,000 in Cisco Systems, Inc. $CSCO

AXQ Capital LP acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,334 shares of the network equipment provider’s stock, valued at approximately $707,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Cisco Systems in the second quarter valued at $3,816,825,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Cisco Systems by 413.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,393,371 shares of the network equipment provider’s stock valued at $1,553,645,000 after acquiring an additional 18,030,441 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Cisco Systems by 46.2% during the 2nd quarter. Franklin Resources Inc. now owns 40,836,858 shares of the network equipment provider’s stock worth $2,833,261,000 after acquiring an additional 12,904,969 shares during the period. Laurel Wealth Advisors LLC boosted its position in shares of Cisco Systems by 6,778.2% in the second quarter. Laurel Wealth Advisors LLC now owns 6,810,012 shares of the network equipment provider’s stock worth $472,479,000 after acquiring an additional 6,711,004 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Cisco Systems by 1.3% in the second quarter. Vanguard Group Inc. now owns 393,989,568 shares of the network equipment provider’s stock valued at $27,334,996,000 after purchasing an additional 5,039,714 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $77.74 on Tuesday. The firm has a 50-day moving average of $77.70 and a two-hundred day moving average of $73.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The stock has a market cap of $307.06 billion, a P/E ratio of 27.28, a PEG ratio of 2.99 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year high of $88.18.

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

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, April 2nd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s payout ratio is presently 57.54%.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,745 shares of Cisco Systems stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $79.46, for a total value of $138,657.70. Following the completion of the transaction, the executive vice president directly owned 176,319 shares in the company, valued at approximately $14,010,307.74. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael D. Capellas sold 16,150 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $77.28, for a total value of $1,248,072.00. Following the sale, the director owned 157,218 shares in the company, valued at $12,149,807.04. The trade was a 9.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 73,498 shares of company stock valued at $5,641,815. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BNP Paribas Exane lifted their price target on shares of Cisco Systems from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. UBS Group boosted their price target on Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Bank of America upped their price target on Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Barclays lifted their price objective on Cisco Systems from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, November 13th. Finally, Citigroup increased their target price on shares of Cisco Systems from $85.00 to $90.00 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 assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.55.

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.