Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Selway Asset Management

Selway Asset Management increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,187 shares of the network equipment provider’s stock after purchasing an additional 800 shares during the quarter. Cisco Systems accounts for approximately 2.4% of Selway Asset Management’s holdings, making the stock its 13th biggest position. Selway Asset Management’s holdings in Cisco Systems were worth $6,077,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Sawyer & Company Inc lifted its holdings in shares of Cisco Systems by 2.0% during the third quarter. Sawyer & Company Inc now owns 49,057 shares of the network equipment provider’s stock worth $2,611,000 after purchasing an additional 970 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Cisco Systems by 3.3% during the third quarter. Sound Income Strategies LLC now owns 333,481 shares of the network equipment provider’s stock worth $17,748,000 after purchasing an additional 10,648 shares during the period. CVA Family Office LLC lifted its holdings in shares of Cisco Systems by 9.5% during the third quarter. CVA Family Office LLC now owns 21,533 shares of the network equipment provider’s stock worth $1,146,000 after purchasing an additional 1,863 shares during the period. McGuire Investment Group LLC purchased a new position in Cisco Systems in the third quarter worth $210,000. Finally, McGlone Suttner Wealth Management Inc. raised its position in Cisco Systems by 4.0% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 17,434 shares of the network equipment provider’s stock worth $928,000 after acquiring an additional 670 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on CSCO. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report 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 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. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $55.00.

Cisco Systems Price Performance

Cisco Systems stock traded up $0.71 during midday trading on Friday, reaching $54.25. 12,704,525 shares of the company were exchanged, compared to its average volume of 19,161,271. The firm’s 50-day simple moving average is $50.14 and its 200-day simple moving average is $48.40. 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 1 year low of $44.50 and a 1 year high of $54.58. The company has a market capitalization of $216.50 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 4.22 and a beta of 0.83.

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

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems 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 transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,529 shares of company stock valued at $3,509,049. Insiders own 0.02% of the company’s stock.

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.