Virginia Wealth Management Group Inc. Purchases 17,902 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Virginia Wealth Management Group Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,780 shares of the network equipment provider’s stock after acquiring an additional 17,902 shares during the period. Cisco Systems comprises about 2.5% of Virginia Wealth Management Group Inc.’s portfolio, making the stock its 18th biggest position. Virginia Wealth Management Group Inc.’s holdings in Cisco Systems were worth $3,927,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Cisco Systems in the 2nd quarter valued at about $25,000. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Quarry LP lifted its stake in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. Retirement Group LLC lifted its stake in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at about $36,000. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. 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 this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO traded up $0.40 on Friday, hitting $53.94. 1,025,388 shares of the stock traded hands, compared to its average volume of 19,101,994. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $54.58. The business’s fifty day moving average is $49.99 and its two-hundred day moving average is $48.37. 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 firm has a market capitalization of $215.26 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 4.22 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, topping 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 firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS 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. Investors 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 dividend yield of 2.97%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Barclays dropped their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

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.