Illinois Municipal Retirement Fund Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Illinois Municipal Retirement Fund lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 621,437 shares of the network equipment provider’s stock after purchasing an additional 29,715 shares during the quarter. Cisco Systems comprises approximately 0.4% of Illinois Municipal Retirement Fund’s holdings, making the stock its 26th largest holding. Illinois Municipal Retirement Fund’s holdings in Cisco Systems were worth $29,524,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC grew its stake in Cisco Systems by 20.8% during the second quarter. Los Angeles Capital Management LLC now owns 2,973,222 shares of the network equipment provider’s stock worth $141,258,000 after buying an additional 512,038 shares during the period. Seven Post Investment Office LP purchased a new stake in Cisco Systems during the 2nd quarter worth $555,000. Gentry Private Wealth LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at $428,000. Cahaba Wealth Management Inc. purchased a new position in Cisco Systems in the second quarter valued at about $561,000. Finally, Opes Wealth Management LLC grew its stake in shares of Cisco Systems by 4.1% during the second quarter. Opes Wealth Management LLC now owns 8,046 shares of the network equipment provider’s stock valued at $382,000 after acquiring an additional 318 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research note 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. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target 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. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research note on Monday, May 13th. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.63 on Friday, hitting $48.50. The company’s stock had a trading volume of 21,040,496 shares, compared to its average volume of 19,646,146. The company has a market capitalization of $195.40 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 3.98 and a beta of 0.83. 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 12 month low of $44.50 and a 12 month high of $57.09. The stock’s 50-day moving average is $47.84 and its two-hundred day moving average is $47.94.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion during 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 company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed 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 is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction 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 transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 71,944 shares of company stock valued at $3,566,120 over the last quarter. Corporate 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.