Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Lowered by Abbot Financial Management Inc.

Abbot Financial Management Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 65,802 shares of the network equipment provider’s stock after selling 1,478 shares during the quarter. Cisco Systems accounts for about 1.7% of Abbot Financial Management Inc.’s portfolio, making the stock its 12th largest holding. Abbot Financial Management Inc.’s holdings in Cisco Systems were worth $3,126,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after buying an additional 1,853,598 shares during the period. Wellington Management Group LLP increased its position in shares of Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after acquiring an additional 3,314,330 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares during the period. First Trust Advisors LP lifted its position in shares of Cisco Systems by 12.3% in the 4th quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after acquiring an additional 2,723,260 shares in the last quarter. Finally, FIL Ltd boosted its stake in Cisco Systems by 47.1% in the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after purchasing an additional 6,054,748 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CSCO. Rosenblatt Securities boosted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. One investment 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $51.03 on Tuesday. The business’s 50-day simple moving average is $48.15 and its 200-day simple moving average is $47.98. 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 52 week low of $44.50 and a 52 week high of $56.28. The firm has a market cap of $205.59 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is 53.87%.

Cisco Systems 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.