Foster & Motley Inc. Lowers Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Foster & Motley Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,687 shares of the network equipment provider’s stock after selling 15,284 shares during the period. Foster & Motley Inc.’s holdings in Cisco Systems were worth $10,734,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CSCO. Waypoint Capital Advisors LLC lifted its holdings in Cisco Systems by 2.9% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after buying an additional 182 shares during the last quarter. Andina Capital Management LLC lifted its holdings in Cisco Systems by 3.6% during the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after buying an additional 182 shares during the last quarter. Meridian Financial Partners LLC lifted its holdings in Cisco Systems by 3.8% during the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock worth $267,000 after buying an additional 185 shares during the last quarter. Gleason Group Inc. lifted its holdings in Cisco Systems by 0.9% during the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after buying an additional 193 shares during the last quarter. Finally, Cassia Capital Partners LLC lifted its holdings in Cisco Systems by 1.5% during the 3rd quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock worth $696,000 after buying an additional 195 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of recent analyst reports. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Evercore ISI boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Jefferies Financial Group reduced their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their target price 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. Thirteen equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.74.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $56.16 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $52.84 and its two-hundred day moving average is $49.21. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06. The stock has a market capitalization of $224.12 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 4.60 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for 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 company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. Research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 62.99%.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on 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 owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, 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. In the last 90 days, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is owned by corporate insiders.

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.