Fonville Wealth Management LLC Acquires New Shares in Cisco Systems, Inc. (NASDAQ:CSCO)

Fonville Wealth Management LLC acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 2nd quarter, Holdings Channel reports. The firm acquired 4,548 shares of the network equipment provider’s stock, valued at approximately $216,000.

Several other hedge funds have also recently bought and sold shares of the company. Navalign LLC increased its stake in Cisco Systems by 2.6% in the 2nd quarter. Navalign LLC now owns 16,273 shares of the network equipment provider’s stock valued at $773,000 after purchasing an additional 412 shares in the last quarter. Bryn Mawr Capital Management LLC increased its stake in Cisco Systems by 9.7% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 434,279 shares of the network equipment provider’s stock valued at $20,604,000 after purchasing an additional 38,502 shares in the last quarter. Searle & CO. increased its stake in Cisco Systems by 20.2% in the 2nd quarter. Searle & CO. now owns 57,360 shares of the network equipment provider’s stock valued at $2,725,000 after purchasing an additional 9,620 shares in the last quarter. Values Added Financial LLC purchased a new position in Cisco Systems in the 2nd quarter valued at approximately $323,000. Finally, Integral Investment Advisors Inc. increased its position in Cisco Systems by 14.2% during the second quarter. Integral Investment Advisors Inc. now owns 9,341 shares of the network equipment provider’s stock worth $443,000 after buying an additional 1,162 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.3 %

NASDAQ:CSCO traded up $0.15 during mid-day trading on Friday, hitting $50.54. The company had a trading volume of 15,615,756 shares, compared to its average volume of 19,705,105. The business has a fifty day simple moving average of $47.62 and a 200-day simple moving average of $47.92. The company has a current ratio of 0.89, a quick ratio of 0.82 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 firm has a market capitalization of $203.62 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 2.97 and a beta of 0.85.

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. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the company posted $1.01 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. Equities analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Jefferies Financial Group dropped their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. New Street Research upgraded 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. 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 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. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.89.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems 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 sale, the executive vice president now directly 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 can be accessed through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,944 shares of company stock valued at $3,566,120. 0.02% of the stock is currently owned by insiders.

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.