Everett Harris & Co. CA Purchases 1,860 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Everett Harris & Co. CA grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,069 shares of the network equipment provider’s stock after buying an additional 1,860 shares during the quarter. Everett Harris & Co. CA’s holdings in Cisco Systems were worth $1,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. Summit Securities Group LLC bought a new position in Cisco Systems during the 2nd quarter worth about $25,000. Quarry LP boosted its stake in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC raised its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Retirement Group LLC lifted its holdings in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the 2nd quarter valued at $36,000. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems 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 directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. 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 over the last quarter. 0.02% of the stock is currently owned by insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $56.76 on Friday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $56.87. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a market cap of $228.68 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company’s 50 day moving average is $51.17 and its 200 day moving average is $48.60.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data 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. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders 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 dividend yield of 2.82%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CSCO shares. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of 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. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and an average price target of $56.74.

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.