Atlas Brown Inc. Trims Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Atlas Brown Inc. trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 19,034 shares of the network equipment provider’s stock after selling 736 shares during the period. Atlas Brown Inc.’s holdings in Cisco Systems were worth $1,036,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Cisco Systems by 1.7% during the 2nd quarter. BlackRock Inc. now owns 340,829,610 shares of the network equipment provider’s stock worth $18,063,968,000 after acquiring an additional 5,849,767 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cisco Systems by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 334,670,666 shares of the network equipment provider’s stock valued at $17,737,546,000 after buying an additional 1,579,250 shares in the last quarter. State Street Corp boosted its holdings in shares of Cisco Systems by 1.6% in the 2nd quarter. State Street Corp now owns 179,954,574 shares of the network equipment provider’s stock valued at $9,537,592,000 after buying an additional 2,760,132 shares in the last quarter. Geode Capital Management LLC raised its position in Cisco Systems by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 69,935,509 shares of the network equipment provider’s stock valued at $3,696,519,000 after purchasing an additional 494,757 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Cisco Systems by 6.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 47,599,481 shares of the network equipment provider’s stock valued at $2,522,774,000 after purchasing an additional 3,002,815 shares during the last quarter. 71.75% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Prat Bhatt sold 12,722 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $54.80, for a total transaction of $697,165.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.02% of the stock is currently owned by insiders.

CSCO has been the subject of several research reports. Piper Sandler upped their price target on shares of Cisco Systems from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, September 16th. Citigroup upped their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, August 19th. Morgan Stanley lowered shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $57.00 to $59.00 in a report on Thursday, September 9th. JPMorgan Chase & Co. set a $70.00 price target on shares of Cisco Systems in a research report on Thursday, September 16th. Finally, Westpark Capital started coverage on shares of Cisco Systems in a research report on Friday, September 24th. They set a “hold” rating and a $62.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average price target of $62.24.

Shares of NASDAQ CSCO traded up $0.24 during trading hours on Thursday, hitting $55.54. The stock had a trading volume of 19,324,937 shares, compared to its average volume of 18,948,041. The company has a market capitalization of $234.25 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.48 and a beta of 0.92. The firm’s 50-day moving average price is $55.81 and its two-hundred day moving average price is $55.24. Cisco Systems, Inc. has a 52 week low of $42.21 and a 52 week high of $60.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 1.62.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Tuesday, November 16th. The network equipment provider reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Cisco Systems had a return on equity of 30.59% and a net margin of 22.44%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 3.07 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 27th. Investors of record on Tuesday, October 5th were issued a $0.37 dividend. The ex-dividend date was Monday, October 4th. This represents a $1.48 annualized dividend and a yield of 2.66%. Cisco Systems’s dividend payout ratio (DPR) is currently 55.02%.

Cisco Systems Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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

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