Cim Investment Management Inc. Sells 15,520 Shares of Cisco Systems, Inc. $CSCO

Cim Investment Management Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 50.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,125 shares of the network equipment provider’s stock after selling 15,520 shares during the period. Cim Investment Management Inc.’s holdings in Cisco Systems were worth $1,035,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Benchmark Financial Wealth Advisors LLC grew its holdings in shares of Cisco Systems by 1.4% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock worth $715,000 after purchasing an additional 142 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its stake in Cisco Systems by 0.6% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 24,622 shares of the network equipment provider’s stock valued at $1,685,000 after purchasing an additional 142 shares in the last quarter. Yoder Wealth Management Inc. lifted its position in Cisco Systems by 3.8% during the third quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock valued at $270,000 after purchasing an additional 143 shares during the last quarter. Weaver Consulting Group lifted its position in Cisco Systems by 1.5% during the third quarter. Weaver Consulting Group now owns 9,940 shares of the network equipment provider’s stock valued at $680,000 after purchasing an additional 145 shares during the last quarter. Finally, KKM Financial LLC grew its stake in Cisco Systems by 1.9% in the 3rd quarter. KKM Financial LLC now owns 7,971 shares of the network equipment provider’s stock worth $545,000 after buying an additional 145 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.5%

NASDAQ CSCO opened at $79.27 on Wednesday. The stock has a market cap of $313.11 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 2.98 and a beta of 0.87. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $88.18. The stock has a 50 day simple moving average of $78.16 and a two-hundred day simple moving average of $74.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $15.11 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

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

Insider Transactions at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 11,248 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $854,848.00. Following the completion of the sale, the insider directly owned 262,776 shares in the company, valued at $19,970,976. This trade represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 19,545 shares of Cisco Systems stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the sale, the chief executive officer directly owned 671,095 shares in the company, valued at approximately $51,003,220. The trade was a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 75,799 shares of company stock worth $5,815,306. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Cisco Systems from $82.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of Cisco Systems in a research report on Thursday, February 12th. Evercore upgraded Cisco Systems from an “in-line” rating to an “outperform” rating and raised their price target for the company from $80.00 to $100.00 in a research report on Monday, January 26th. Argus raised Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. upped their price objective on Cisco Systems from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.55.

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Cisco Systems Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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