Oak Harbor Wealth Partners LLC Has $2.20 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Oak Harbor Wealth Partners LLC increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,369 shares of the network equipment provider’s stock after purchasing an additional 1,200 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Cisco Systems were worth $2,203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Delos Wealth Advisors LLC boosted its stake in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Cisco Systems in the fourth quarter worth $33,000. Retirement Group LLC increased its stake in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the period. Tidemark LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at $41,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Cisco Systems during the first quarter valued at about $41,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.9 %

Shares of NASDAQ CSCO traded up $0.93 during midday trading on Friday, hitting $49.46. The stock had a trading volume of 27,424,886 shares, compared to its average volume of 19,935,170. The company has a market capitalization of $199.27 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 2.97 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.19. The company has a fifty day moving average price of $46.74 and a 200 day moving average price of $47.88.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, analysts predict that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.23%. Cisco Systems’s payout ratio is 53.87%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $53.00 to $55.00 and gave the company 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. Rosenblatt Securities lifted their target price on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday. Wells Fargo & Company upped their target price on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.70.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Insiders sold a total of 33,090 shares of company stock valued at $1,522,231 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

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.