Northeast Investment Management Has $2.71 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Northeast Investment Management lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,982 shares of the network equipment provider’s stock after selling 885 shares during the quarter. Northeast Investment Management’s holdings in Cisco Systems were worth $2,713,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. BSW Wealth Partners boosted its holdings in shares of Cisco Systems by 4.4% in the 3rd quarter. BSW Wealth Partners now owns 6,879 shares of the network equipment provider’s stock valued at $366,000 after buying an additional 290 shares during the last quarter. Minneapolis Portfolio Management Group LLC increased its position in Cisco Systems by 23.2% during the 3rd quarter. Minneapolis Portfolio Management Group LLC now owns 578,132 shares of the network equipment provider’s stock worth $30,768,000 after buying an additional 109,025 shares during the period. Van ECK Associates Corp increased its position in Cisco Systems by 3.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,179,202 shares of the network equipment provider’s stock worth $66,365,000 after buying an additional 40,791 shares during the period. Fort Pitt Capital Group LLC increased its position in Cisco Systems by 3.9% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 82,628 shares of the network equipment provider’s stock worth $4,397,000 after buying an additional 3,109 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in Cisco Systems by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,809 shares of the network equipment provider’s stock worth $2,491,000 after buying an additional 226 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred 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 directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 over the last ninety days. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $55.50 on Monday. The business’s 50-day moving average price is $52.63 and its 200-day moving average price is $49.10. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06. The firm has a market capitalization of $221.49 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.54 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 (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm 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 business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the firm posted $1.01 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 62.99%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CSCO shares. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. Barclays decreased their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $56.74.

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.