Weatherly Asset Management L. P. Sells 2,900 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Weatherly Asset Management L. P. trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,501 shares of the network equipment provider’s stock after selling 2,900 shares during the period. Weatherly Asset Management L. P.’s holdings in Cisco Systems were worth $2,399,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its stake in Cisco Systems by 0.3% in the 4th quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after buying an additional 202 shares in the last quarter. Hyman Charles D lifted its stake in Cisco Systems by 0.3% in the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock valued at $3,573,000 after buying an additional 203 shares in the last quarter. Baker Boyer National Bank lifted its stake in Cisco Systems by 2.6% in the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after buying an additional 210 shares in the last quarter. Holland Advisory Services Inc. lifted its stake in Cisco Systems by 5.3% in the 1st quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock valued at $211,000 after buying an additional 213 shares in the last quarter. Finally, WealthPLAN Partners LLC lifted its stake in Cisco Systems by 3.0% in the 1st quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock valued at $369,000 after buying an additional 213 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Up 0.3 %

Cisco Systems stock traded up $0.15 during trading on Friday, reaching $50.54. 15,615,756 shares of the company’s stock were exchanged, compared to its average volume of 21,125,456. The company’s 50-day moving average is $47.62 and its two-hundred day moving average is $47.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $58.19. The firm has a market cap of $203.62 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 3.98 and a beta of 0.85.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.17%. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’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 completion of the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders sold a total of 71,944 shares of company stock valued at $3,566,120 in the last ninety days. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CSCO. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Rosenblatt Securities boosted their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their price target on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. One investment 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 data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Company 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.