Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Commonwealth Retirement Investments LLC

Commonwealth Retirement Investments LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,542 shares of the network equipment provider’s stock after selling 1,761 shares during the quarter. Cisco Systems comprises 2.6% of Commonwealth Retirement Investments LLC’s portfolio, making the stock its 10th largest position. Commonwealth Retirement Investments LLC’s holdings in Cisco Systems were worth $5,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Gilbert & Cook Inc. grew its position in Cisco Systems by 1.1% in the 4th quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock worth $1,183,000 after purchasing an additional 264 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in shares of Cisco Systems by 104.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock worth $1,177,000 after buying an additional 11,767 shares during the period. Principal Securities Inc. bought a new position in Cisco Systems in the 4th quarter worth approximately $2,579,000. Lebenthal Global Advisors LLC increased its position in Cisco Systems by 20.3% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,270 shares of the network equipment provider’s stock valued at $367,000 after acquiring an additional 1,226 shares during the period. Finally, Calton & Associates Inc. bought a new stake in Cisco Systems during the 4th quarter valued at $592,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of several recent analyst reports. Oppenheimer increased their price target on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research note on Monday, May 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective 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, StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.89.

Cisco Systems Price Performance

NASDAQ CSCO opened at $48.50 on Friday. 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, Inc. has a 1 year low of $44.50 and a 1 year high of $57.09. The company has a market cap of $195.40 billion, a PE ratio of 16.33, a PEG ratio of 3.98 and a beta of 0.83. The stock’s 50-day moving average price is $47.84 and its two-hundred day moving average price is $47.94.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. On average, analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. 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 3.30%. Cisco Systems’s dividend payout ratio is 53.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was 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 directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s 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 completion of 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. Over the last ninety days, insiders have sold 71,944 shares of company stock valued at $3,566,120. Company insiders own 0.02% of the company’s stock.

About Cisco Systems

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.