Total Clarity Wealth Management Inc. Sells 3,038 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Total Clarity Wealth Management Inc. cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 21.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,207 shares of the network equipment provider’s stock after selling 3,038 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Cisco Systems were worth $532,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. One Capital Management LLC increased its holdings in Cisco Systems by 18.7% in the second quarter. One Capital Management LLC now owns 179,844 shares of the network equipment provider’s stock valued at $8,544,000 after purchasing an additional 28,284 shares during the period. Sierra Summit Advisors LLC raised its position in shares of Cisco Systems by 7.3% during the second quarter. Sierra Summit Advisors LLC now owns 22,721 shares of the network equipment provider’s stock worth $1,079,000 after acquiring an additional 1,541 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the period. Keene & Associates Inc. increased its position in Cisco Systems by 2.3% during the 2nd quarter. Keene & Associates Inc. now owns 72,812 shares of the network equipment provider’s stock valued at $3,459,000 after purchasing an additional 1,629 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Cisco Systems by 19.0% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 121,055 shares of the network equipment provider’s stock worth $5,751,000 after purchasing an additional 19,338 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated 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 of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by company insiders.

Cisco Systems Stock Up 2.5 %

CSCO opened at $51.03 on Tuesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $56.28. The firm has a market capitalization of $205.59 billion, a P/E ratio of 17.18, a PEG ratio of 3.87 and a beta of 0.83. The company’s 50-day moving average is $48.15 and its 200 day moving average is $47.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The company 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 27.83% and a net margin of 19.18%. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. Research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CSCO shares. JPMorgan Chase & Co. lifted their target price on shares of 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 issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.89.

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.