Cornerstone Capital Inc. Has $20.87 Million Stock Holdings in Cisco Systems, Inc. $CSCO

Cornerstone Capital Inc. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 305,040 shares of the network equipment provider’s stock after purchasing an additional 6,647 shares during the period. Cisco Systems comprises 2.0% of Cornerstone Capital Inc.’s holdings, making the stock its 19th largest position. Cornerstone Capital Inc.’s holdings in Cisco Systems were worth $20,871,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Benchmark Financial Wealth Advisors LLC boosted its stake in shares of Cisco Systems by 1.4% during the 3rd quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock worth $715,000 after acquiring an additional 142 shares during the period. Yoder Wealth Management Inc. raised its stake in Cisco Systems by 3.8% in the 3rd quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock valued at $270,000 after acquiring an additional 143 shares during the period. Wynn Capital LLC raised its stake in Cisco Systems by 0.3% in the 3rd quarter. Wynn Capital LLC now owns 48,456 shares of the network equipment provider’s stock valued at $3,315,000 after acquiring an additional 150 shares during the period. Old North State Trust LLC boosted its position in Cisco Systems by 0.6% during the second quarter. Old North State Trust LLC now owns 24,534 shares of the network equipment provider’s stock worth $1,702,000 after purchasing an additional 151 shares during the period. Finally, Boyd Watterson Asset Management LLC OH increased its holdings in shares of Cisco Systems by 1.5% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 10,445 shares of the network equipment provider’s stock valued at $725,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In related news, insider Jeetendra I. Patel sold 11,248 shares of Cisco Systems stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $854,848.00. Following the transaction, the insider directly owned 262,776 shares of the company’s stock, valued at $19,970,976. This trade represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kristina M. Johnson sold 13,481 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $77.13, for a total transaction of $1,039,789.53. Following the transaction, the director owned 61,630 shares of the company’s stock, valued at approximately $4,753,521.90. This represents a 17.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 73,498 shares of company stock worth $5,641,815 in the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 1.8%

Shares of CSCO stock opened at $77.74 on Tuesday. The stock has a market cap of $307.06 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 2.99 and a beta of 0.87. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $88.18. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $77.70 and a 200 day simple moving average of $73.54.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, April 2nd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio is presently 57.54%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Cisco Systems in a research note on Tuesday, January 27th. Rosenblatt Securities restated a “buy” rating and set a $100.00 price objective on shares of Cisco Systems in a research report on Thursday, February 12th. Zacks Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Melius Research increased their target price on Cisco Systems from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, HSBC boosted their price target on Cisco Systems from $74.00 to $77.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.55.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.