Sierra Summit Advisors LLC Grows Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Sierra Summit Advisors LLC increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 22,721 shares of the network equipment provider’s stock after purchasing an additional 1,541 shares during the period. Sierra Summit Advisors LLC’s holdings in Cisco Systems were worth $1,079,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the second quarter valued at $25,000. Retirement Group LLC boosted its holdings in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares during the period. Hobbs Group Advisors LLC acquired a new position in Cisco Systems in the 2nd quarter valued at about $36,000. Tidemark LLC purchased a new stake in Cisco Systems during the fourth quarter worth about $41,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the first quarter worth about $41,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted 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. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Barclays lowered their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $55.89.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $49.80 on Monday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $56.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market cap of $200.63 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 3.87 and a beta of 0.83. The stock’s 50-day moving average is $48.05 and its two-hundred day moving average is $47.96.

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 the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for 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%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. Analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s 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.