Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,775 shares of the network equipment provider’s stock after selling 4,387 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Cisco Systems were worth $1,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the second quarter worth approximately $25,000. Quarry LP boosted its stake in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC grew its holdings in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Retirement Group LLC raised its stake in shares of 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 purchasing an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems during the second quarter worth about $36,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 0.0 %

NASDAQ:CSCO opened at $54.27 on Tuesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.58. The business has a fifty day moving average of $50.33 and a 200-day moving average of $48.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a market cap of $218.64 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results 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 firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. Equities analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Insider Activity

In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents 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 worth $3,509,049. 0.02% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Evercore ISI boosted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective 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. Rosenblatt Securities boosted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.21.

About Cisco Systems

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.