Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Lewis Asset Management LLC

Lewis Asset Management LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 23.2% in the 3rd quarter, Holdings Channel reports. The firm owned 6,408 shares of the network equipment provider’s stock after purchasing an additional 1,205 shares during the period. Lewis Asset Management LLC’s holdings in Cisco Systems were worth $341,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its stake in Cisco Systems by 226.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock worth $1,319,000 after acquiring an additional 18,339 shares in the last quarter. PFG Advisors boosted its stake in shares of Cisco Systems by 3.7% in the first quarter. PFG Advisors now owns 21,311 shares of the network equipment provider’s stock valued at $1,064,000 after purchasing an additional 752 shares during the period. Nelson Capital Management LLC increased its stake in Cisco Systems by 1.9% during the 1st quarter. Nelson Capital Management LLC now owns 120,110 shares of the network equipment provider’s stock worth $5,995,000 after buying an additional 2,213 shares during the period. Equity Investment Corp lifted its holdings in Cisco Systems by 0.5% during the 1st quarter. Equity Investment Corp now owns 1,128,571 shares of the network equipment provider’s stock worth $56,327,000 after buying an additional 6,006 shares in the last quarter. Finally, Nvwm LLC boosted its position in Cisco Systems by 4.2% in the 1st quarter. Nvwm LLC now owns 24,434 shares of the network equipment provider’s stock valued at $1,220,000 after buying an additional 976 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock worth $3,509,049. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CSCO shares. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $53.00 to $55.00 and gave the company 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 reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, August 15th. Finally, Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.74.

Cisco Systems Stock Performance

Shares of CSCO opened at $58.08 on Friday. The stock has a market capitalization of $231.78 billion, a P/E ratio of 22.87, a P/E/G ratio of 4.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $58.30. The company’s fifty day moving average is $53.00 and its two-hundred day moving average is $49.27.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.75%. Cisco Systems’s payout ratio is currently 62.99%.

About Cisco Systems

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.