Alpha Omega Wealth Management LLC Boosts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Alpha Omega Wealth Management LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 173,471 shares of the network equipment provider’s stock after acquiring an additional 473 shares during the period. Cisco Systems accounts for approximately 1.6% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Alpha Omega Wealth Management LLC’s holdings in Cisco Systems were worth $8,242,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CSCO. Delos Wealth Advisors LLC raised its holdings 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 valued at $32,000 after buying an additional 600 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems in the 4th quarter valued at about $33,000. Retirement Group LLC raised its holdings in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares during the period. Hobbs Group Advisors LLC purchased a new stake in Cisco Systems in the 2nd quarter valued at about $36,000. Finally, Tidemark LLC purchased a new stake in Cisco Systems in the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold 98,274 shares of company stock worth $4,764,829 in the last ninety days. 0.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Wells Fargo & Company lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. lifted their target price 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. One analyst has rated the stock with a sell rating, fourteen have assigned 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.com, the company has a consensus rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Stock Up 0.1 %

Shares of Cisco Systems stock traded up $0.05 on Monday, reaching $50.79. 11,970,797 shares of the company were exchanged, compared to its average volume of 19,839,639. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.19. The company has a market cap of $204.62 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The stock’s 50 day moving average price is $47.30 and its 200-day moving average price is $47.88.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results 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 firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 earnings per share. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) 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.