Groupama Asset Managment Buys 24,460 Shares of Cisco Systems, Inc. $CSCO

Groupama Asset Managment grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,508 shares of the network equipment provider’s stock after acquiring an additional 24,460 shares during the period. Groupama Asset Managment’s holdings in Cisco Systems were worth $11,412,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CSCO. Legacy Financial Group Inc. grew its holdings in Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after purchasing an additional 169 shares during the period. Capital Advantage Inc. grew its holdings in Cisco Systems by 1.0% during the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after purchasing an additional 172 shares during the period. Avalon Trust Co grew its holdings in Cisco Systems by 5.4% during the first quarter. Avalon Trust Co now owns 3,433 shares of the network equipment provider’s stock worth $212,000 after purchasing an additional 177 shares during the period. Rossmore Private Capital grew its holdings in Cisco Systems by 0.3% during the first quarter. Rossmore Private Capital now owns 69,220 shares of the network equipment provider’s stock worth $4,272,000 after purchasing an additional 181 shares during the period. Finally, GSG Advisors LLC grew its holdings in Cisco Systems by 4.8% during the first quarter. GSG Advisors LLC now owns 4,023 shares of the network equipment provider’s stock worth $234,000 after purchasing an additional 183 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.1%

Shares of CSCO opened at $66.95 on Tuesday. Cisco Systems, Inc. has a one year low of $47.85 and a one year high of $72.55. The company has a market cap of $265.12 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $68.00 and a two-hundred day simple moving average of $63.42.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Friday, October 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. Cisco Systems’s dividend payout ratio is 62.60%.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 4,185 shares of the company’s 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 completion of the transaction, the senior vice president directly owned 38,103 shares in the company, valued at approximately $2,419,921.53. This represents a 9.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the company’s stock in a transaction on 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 owned 174,669 shares of the company’s stock, valued at $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,731 shares of company stock valued at $5,021,519. 0.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CSCO. Piper Sandler lifted their price target on Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, August 14th. Wells Fargo & Company boosted their price objective on Cisco Systems from $75.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Citigroup boosted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. New Street Research restated a “neutral” rating and set a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Finally, Evercore ISI boosted their price objective on Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a report on Thursday, August 14th. Ten analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.53.

Cisco Systems Profile

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.