Verum Partners LLC Purchases New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Verum Partners LLC bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the 3rd quarter, Holdings Channel.com reports. The firm bought 4,382 shares of the network equipment provider’s stock, valued at approximately $233,000.

Other large investors have also modified their holdings of the company. Summit Securities Group LLC purchased a new position in Cisco Systems in the 2nd quarter worth approximately $25,000. Quarry LP grew its holdings 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 purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC increased its stake 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 buying an additional 309 shares during the period. Retirement Group LLC lifted 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 worth $36,000 after buying an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the second quarter valued at about $36,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO stock traded up $1.43 during trading on Wednesday, reaching $55.51. 4,623,370 shares of the company’s stock were exchanged, compared to its average volume of 19,054,451. The firm has a market cap of $223.64 billion, a PE ratio of 18.21, a P/E/G ratio of 4.22 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $55.73. The company’s fifty day moving average price is $50.51 and its 200-day moving average price is $48.45.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for 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%. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Activity

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on CSCO shares. JPMorgan Chase & Co. increased their price target on Cisco Systems from $53.00 to $55.00 and gave the company 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. Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Tigress Financial lifted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.74.

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.