GSG Advisors LLC Buys 183 Shares of Cisco Systems, Inc. $CSCO

by · The Markets Daily

GSG Advisors LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 4.8% during the first quarter, HoldingsChannel.com reports. The fund owned 4,023 shares of the network equipment provider’s stock after buying an additional 183 shares during the quarter. GSG Advisors LLC’s holdings in Cisco Systems were worth $234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in shares of Cisco Systems by 37.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider’s stock valued at $2,898,722,000 after acquiring an additional 12,775,066 shares during the period. Nuveen LLC purchased a new position in Cisco Systems in the first quarter valued at about $750,495,000. Pacer Advisors Inc. raised its holdings in Cisco Systems by 1,144.2% in the first quarter. Pacer Advisors Inc. now owns 8,120,886 shares of the network equipment provider’s stock worth $501,140,000 after purchasing an additional 7,468,212 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $413,491,000. Finally, GAMMA Investing LLC grew its position in shares of Cisco Systems by 7,096.5% in the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after buying an additional 6,625,045 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Wells Fargo & Company upped their target price on Cisco Systems from $75.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Piper Sandler increased their price objective on shares of Cisco Systems from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, KeyCorp started coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price on the stock. Ten analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.53.

View Our Latest Stock Report on Cisco Systems

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,185 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total transaction of $265,789.35. Following the transaction, the senior vice president directly owned 38,103 shares in the company, valued at $2,419,921.53. This represents a 9.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president directly owned 174,669 shares in the company, valued at $11,447,806.26. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,731 shares of company stock worth $5,021,519. 0.01% of the stock is currently owned by insiders.

Cisco Systems Price Performance

CSCO opened at $66.20 on Monday. Cisco Systems, Inc. has a 52-week low of $47.85 and a 52-week high of $72.55. The company has a 50 day moving average of $67.98 and a two-hundred day moving average of $63.38. The company has a market cap of $262.15 billion, a P/E ratio of 25.27, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Cisco Systems had a return on equity of 27.02% and a net margin of 18.45%. The business had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. During the same quarter last year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio is 62.60%.

Cisco Systems Company Profile

(Free Report)

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.

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