Cisco Systems, Inc. (NASDAQ:CSCO) Stake Boosted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 621,437 shares of the network equipment provider’s stock after buying an additional 29,715 shares during the quarter. Cisco Systems accounts for 0.4% of Illinois Municipal Retirement Fund’s portfolio, making the stock its 26th largest position. Illinois Municipal Retirement Fund’s holdings in Cisco Systems were worth $29,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Gilbert & Cook Inc. grew its stake in shares of Cisco Systems by 1.1% in the 4th quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after buying an additional 264 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of Cisco Systems by 104.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock valued at $1,177,000 after purchasing an additional 11,767 shares during the last quarter. Principal Securities Inc. acquired a new position in Cisco Systems during the fourth quarter worth $2,579,000. Lebenthal Global Advisors LLC increased its position in Cisco Systems by 20.3% during the fourth quarter. Lebenthal Global Advisors LLC now owns 7,270 shares of the network equipment provider’s stock worth $367,000 after buying an additional 1,226 shares during the last quarter. Finally, Calton & Associates Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter worth about $592,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Down 1.3 %

NASDAQ:CSCO traded down $0.63 during trading hours on Friday, hitting $48.50. 21,040,496 shares of the stock were exchanged, compared to its average volume of 19,646,146. The company has a market capitalization of $195.40 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 3.98 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $47.84 and its two-hundred day moving average is $47.94. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.09.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid 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 3.30%. Cisco Systems’s payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CSCO shares. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note 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. Jefferies Financial Group reduced their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Barclays decreased their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.89.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,944 shares of company stock valued at $3,566,120. Company insiders own 0.02% of the company’s stock.

Cisco Systems 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.