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

Lmcg Investments LLC trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.8% during the third quarter, Holdings Channel reports. The institutional investor owned 118,876 shares of the network equipment provider’s stock after selling 29,392 shares during the period. Lmcg Investments LLC’s holdings in Cisco Systems were worth $6,327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. F M Investments LLC boosted its stake in Cisco Systems by 0.4% in the 3rd quarter. F M Investments LLC now owns 138,011 shares of the network equipment provider’s stock worth $7,332,000 after buying an additional 535 shares during the last quarter. BluePath Capital Management LLC boosted its stake in Cisco Systems by 14.8% in the 3rd quarter. BluePath Capital Management LLC now owns 19,813 shares of the network equipment provider’s stock worth $1,054,000 after buying an additional 2,557 shares during the last quarter. Visionary Horizons LLC boosted its stake in Cisco Systems by 16.4% in the 3rd quarter. Visionary Horizons LLC now owns 11,854 shares of the network equipment provider’s stock worth $631,000 after buying an additional 1,674 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in Cisco Systems by 7.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 26,128 shares of the network equipment provider’s stock worth $1,471,000 after buying an additional 1,803 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Cisco Systems by 8.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 69,954 shares of the network equipment provider’s stock worth $3,723,000 after buying an additional 5,600 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems 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 completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CSCO. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a 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. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Evercore ISI raised their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.74.

Cisco Systems Stock Up 1.3 %

CSCO stock traded up $0.73 during midday trading on Friday, hitting $55.50. 19,235,612 shares of the company’s stock were exchanged, compared to its average volume of 19,047,523. 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 12-month low of $44.50 and a 12-month high of $57.06. The firm has a 50 day moving average price of $52.63 and a 200-day moving average price of $49.09. The stock has a market capitalization of $221.49 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during 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 was down 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. On average, analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. Cisco Systems’s payout ratio is 62.99%.

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.