Sara Bay Financial Increases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sara Bay Financial grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,490 shares of the network equipment provider’s stock after buying an additional 918 shares during the period. Sara Bay Financial’s holdings in Cisco Systems were worth $783,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Delos Wealth Advisors LLC lifted its stake in Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Cisco Systems in the 4th quarter worth approximately $33,000. Retirement Group LLC boosted its stake in Cisco Systems by 56.8% in the first 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. Tidemark LLC bought a new position in Cisco Systems during the fourth quarter valued at approximately $41,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the first quarter worth approximately $41,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.1 %

CSCO stock traded up $0.52 during trading on Monday, reaching $49.98. The company had a trading volume of 16,165,573 shares, compared to its average volume of 19,912,549. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $58.19. The business has a 50 day moving average of $46.74 and a 200 day moving average of $47.86. The company has a market cap of $201.36 billion, a P/E ratio of 16.83, a PEG ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last announced 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 firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.20%. Cisco Systems’s payout ratio is 53.87%.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now directly owns 176,384 shares in the company, valued at $7,997,250.56. The disclosure for this sale can be found here. Insiders have sold 33,090 shares of company stock valued at $1,522,231 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSCO. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday. Barclays reduced their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday. JPMorgan Chase & Co. raised their price target on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.89.

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.