Accurate Wealth Management LLC Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Accurate Wealth Management LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,173 shares of the network equipment provider’s stock after buying an additional 1,138 shares during the quarter. Accurate Wealth Management LLC’s holdings in Cisco Systems were worth $2,713,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CSCO. RFG Advisory LLC raised its position in shares of Cisco Systems by 2.4% in the 1st quarter. RFG Advisory LLC now owns 42,135 shares of the network equipment provider’s stock worth $2,103,000 after acquiring an additional 990 shares in the last quarter. GSG Advisors LLC acquired a new position in Cisco Systems during the 1st quarter valued at about $221,000. Central Bank & Trust Co. increased its position in Cisco Systems by 17.4% during the 1st quarter. Central Bank & Trust Co. now owns 25,764 shares of the network equipment provider’s stock valued at $1,286,000 after buying an additional 3,812 shares in the last quarter. &PARTNERS increased its position in Cisco Systems by 54.5% during the 1st quarter. &PARTNERS now owns 64,687 shares of the network equipment provider’s stock valued at $3,220,000 after buying an additional 22,824 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in Cisco Systems by 15.6% during the 1st quarter. International Assets Investment Management LLC now owns 39,625 shares of the network equipment provider’s stock valued at $1,983,000 after buying an additional 5,359 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSCO has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research 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. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Barclays cut their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $62.00 in a report on Wednesday. Finally, New Street Research raised 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. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus price target of $56.74.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. 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 ninety days. Company insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $56.76 on Friday. The business has a fifty day moving average of $51.17 and a two-hundred day moving average of $48.60. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $228.68 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.87.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.82%. Cisco Systems’s dividend payout ratio is currently 53.87%.

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.