DLK Investment Management LLC Purchases 1,040 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

DLK Investment Management LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,748 shares of the network equipment provider’s stock after purchasing an additional 1,040 shares during the quarter. DLK Investment Management LLC’s holdings in Cisco Systems were worth $3,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSCO. LVW Advisors LLC increased its holdings in shares of Cisco Systems by 13.4% in the 3rd quarter. LVW Advisors LLC now owns 48,848 shares of the network equipment provider’s stock worth $2,600,000 after buying an additional 5,756 shares during the last quarter. Virginia Wealth Management Group Inc. raised its stake in shares of Cisco Systems by 32.0% during the 3rd quarter. Virginia Wealth Management Group Inc. now owns 73,780 shares of the network equipment provider’s stock worth $3,927,000 after acquiring an additional 17,902 shares in the last quarter. Independence Bank of Kentucky raised its stake in shares of Cisco Systems by 44.3% during the 3rd quarter. Independence Bank of Kentucky now owns 21,546 shares of the network equipment provider’s stock worth $1,147,000 after acquiring an additional 6,614 shares in the last quarter. Stolper Co raised its stake in shares of Cisco Systems by 0.4% during the 3rd quarter. Stolper Co now owns 125,880 shares of the network equipment provider’s stock worth $6,699,000 after acquiring an additional 447 shares in the last quarter. Finally, Hudson Capital Management LLC raised its stake in shares of Cisco Systems by 2.1% during the 3rd quarter. Hudson Capital Management LLC now owns 85,343 shares of the network equipment provider’s stock worth $4,542,000 after acquiring an additional 1,748 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company 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. Barclays reduced their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, Rosenblatt Securities raised their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $55.00.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction 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 approximately $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. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last ninety days. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Performance

Cisco Systems stock traded up $0.62 during mid-day trading on Friday, reaching $54.16. 3,777,864 shares of the stock traded hands, compared to its average volume of 19,115,967. The business’s 50-day moving average is $49.99 and its 200-day moving average is $48.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The stock has a market capitalization of $216.14 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $54.58.

Cisco Systems (NASDAQ:CSCO) last posted its 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 company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.9 EPS 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 issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.95%. Cisco Systems’s payout ratio is 62.99%.

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.