Magnolia Capital Management Ltd. Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Cerbat Gem

Magnolia Capital Management Ltd. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 6.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,423 shares of the network equipment provider’s stock after selling 2,304 shares during the quarter. Cisco Systems comprises 1.3% of Magnolia Capital Management Ltd.’s portfolio, making the stock its 16th largest position. Magnolia Capital Management Ltd.’s holdings in Cisco Systems were worth $1,672,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new position in shares of Cisco Systems during the second quarter valued at $25,000. Quarry LP lifted its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC lifted its holdings in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Retirement Group LLC lifted its holdings in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.06 on Tuesday, hitting $56.65. 5,111,933 shares of the company were exchanged, compared to its average volume of 19,087,773. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $51.41 and its 200 day moving average price is $48.66. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The firm has a market capitalization of $228.23 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Sell-side analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.82%. Cisco Systems’s payout ratio is currently 53.87%.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of recent research reports. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $46.00 to $58.00 in a report on Friday, August 16th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, August 15th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. Rosenblatt Securities upped their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.74.

View Our Latest Report on CSCO

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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