United Asset Strategies Inc. Has $2.58 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

United Asset Strategies Inc. increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,559 shares of the network equipment provider’s stock after acquiring an additional 4,370 shares during the quarter. United Asset Strategies Inc.’s holdings in Cisco Systems were worth $2,584,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Catalyst Financial Partners LLC grew its stake in shares of Cisco Systems by 8.2% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,389 shares of the network equipment provider’s stock valued at $1,085,000 after buying an additional 1,550 shares during the period. Tevis Investment Management grew its stake in Cisco Systems by 3.3% in the third quarter. Tevis Investment Management now owns 40,116 shares of the network equipment provider’s stock valued at $2,135,000 after acquiring an additional 1,294 shares during the period. Goldstone Financial Group LLC bought a new stake in shares of Cisco Systems during the third quarter valued at approximately $547,000. Financial Advocates Investment Management raised its position in shares of Cisco Systems by 1.3% during the third quarter. Financial Advocates Investment Management now owns 52,089 shares of the network equipment provider’s stock worth $2,772,000 after purchasing an additional 648 shares during the period. Finally, Cornerstone Wealth Group LLC lifted its holdings in shares of Cisco Systems by 5.5% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 8,451 shares of the network equipment provider’s stock worth $450,000 after purchasing an additional 442 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is owned by company insiders.

Cisco Systems Stock Performance

NASDAQ CSCO traded down $0.83 on Thursday, hitting $54.76. 2,988,858 shares of the stock traded hands, compared to its average volume of 18,956,627. The firm has a market capitalization of $218.53 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 4.22 and a beta of 0.83. The business’s fifty day moving average is $52.44 and its two-hundred day moving average is $49.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Analyst Ratings Changes

Several research firms have weighed in on CSCO. Jefferies Financial Group lowered their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Barclays lowered 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 report on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. Finally, 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 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. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $56.74.

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.