Field & Main Bank Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Field & Main Bank lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,605 shares of the network equipment provider’s stock after selling 1,170 shares during the period. Field & Main Bank’s holdings in Cisco Systems were worth $1,230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CSCO. Amundi acquired a new position in shares of Cisco Systems in the second quarter valued at approximately $1,003,475,000. Invesco Ltd. raised its position in shares of Cisco Systems by 35.5% in the second quarter. Invesco Ltd. now owns 26,114,890 shares of the network equipment provider’s stock valued at $1,384,088,000 after buying an additional 6,840,387 shares during the last quarter. Dodge & Cox raised its position in shares of Cisco Systems by 15.6% in the second quarter. Dodge & Cox now owns 47,579,326 shares of the network equipment provider’s stock valued at $2,521,704,000 after buying an additional 6,426,193 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Cisco Systems by 29.2% in the second quarter. UBS Asset Management Americas Inc. now owns 26,330,977 shares of the network equipment provider’s stock valued at $1,395,542,000 after buying an additional 5,949,585 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Cisco Systems by 1.7% in the second quarter. BlackRock Inc. now owns 340,829,610 shares of the network equipment provider’s stock valued at $18,063,968,000 after buying an additional 5,849,767 shares during the last quarter. 71.75% of the stock is currently owned by institutional investors.

Shares of CSCO stock traded up $0.24 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 firm has a market capitalization of $234.25 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.48 and a beta of 0.92. The stock’s 50 day moving average is $55.81 and its 200-day moving average is $55.24. 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, Inc. has a 52-week low of $42.21 and a 52-week high of $60.27.

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

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

In other Cisco Systems news, SVP Prat Bhatt sold 12,722 shares of the stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $54.80, for a total transaction of $697,165.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.02% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, August 19th. They noted that the move was a valuation call. Oppenheimer upped their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, September 16th. Piper Sandler upped their price target on shares of Cisco Systems from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, September 16th. Finally, Morgan Stanley lowered shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $57.00 to $59.00 in a research report on Thursday, September 9th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $62.24.

About Cisco Systems

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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