Vanguard Personalized Indexing Management LLC Purchases 31,114 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Vanguard Personalized Indexing Management LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 9.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 378,002 shares of the network equipment provider’s stock after acquiring an additional 31,114 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Cisco Systems were worth $17,616,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after acquiring an additional 1,853,598 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Cisco Systems by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after acquiring an additional 3,314,330 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Cisco Systems by 12.3% during the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after acquiring an additional 2,723,260 shares during the last quarter. Finally, FIL Ltd boosted its position in shares of Cisco Systems by 47.1% during the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after acquiring an additional 6,054,748 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $50.61 on Wednesday. The firm has a market cap of $203.90 billion, a P/E ratio of 17.04, a P/E/G ratio of 3.87 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $56.28. The stock’s fifty day moving average price is $48.25 and its 200-day moving average price is $47.99.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal 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 $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.16%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of analyst reports. Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. 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. Piper Sandler restated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Barclays lowered their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus target price of $55.89.

Check Out Our Latest Stock 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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