Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by 1834 Investment Advisors Co.

1834 Investment Advisors Co. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 122,290 shares of the network equipment provider’s stock after selling 14,617 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Cisco Systems were worth $6,508,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Catalina Capital Group LLC increased its stake in shares of Cisco Systems by 22.9% during the third quarter. Catalina Capital Group LLC now owns 14,424 shares of the network equipment provider’s stock valued at $768,000 after acquiring an additional 2,683 shares during the period. Balentine LLC boosted its stake in shares of Cisco Systems by 121.7% during the 3rd quarter. Balentine LLC now owns 11,153 shares of the network equipment provider’s stock worth $594,000 after acquiring an additional 6,123 shares in the last quarter. Long Run Wealth Advisors LLC boosted its position in shares of Cisco Systems by 7.2% in the 3rd quarter. Long Run Wealth Advisors LLC now owns 33,559 shares of the network equipment provider’s stock valued at $1,786,000 after purchasing an additional 2,250 shares during the period. Cornerstone Capital Inc. lifted its holdings in shares of Cisco Systems by 1.8% in the third quarter. Cornerstone Capital Inc. now owns 378,394 shares of the network equipment provider’s stock valued at $20,138,000 after purchasing an additional 6,563 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its position in Cisco Systems by 25.6% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 70,224 shares of the network equipment provider’s stock valued at $3,737,000 after purchasing an additional 14,322 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CSCO. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Barclays dropped their target price on shares of 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. increased their target price on shares of 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. Finally, Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.74.

Cisco Systems Stock Up 0.6 %

CSCO opened at $56.16 on Wednesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a fifty day moving average of $52.84 and a 200-day moving average of $49.21. The company has a market capitalization of $224.12 billion, a P/E ratio of 22.11, a P/E/G ratio of 4.60 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted 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. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.85%. Cisco Systems’s dividend payout ratio is currently 62.99%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’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 transaction of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by insiders.

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.