Hobbs Group Advisors LLC Makes New $36,000 Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 763 shares of the network equipment provider’s stock, valued at approximately $36,000.

Several other large investors also recently bought and sold shares of CSCO. Tennessee Valley Asset Management Partners acquired a new position in shares of Cisco Systems in the 4th quarter valued at $78,000. Grandfield & Dodd LLC raised its position in Cisco Systems by 8.9% during the fourth quarter. Grandfield & Dodd LLC now owns 8,903 shares of the network equipment provider’s stock worth $450,000 after acquiring an additional 727 shares during the period. Handelsbanken Fonder AB raised its position in Cisco Systems by 8.1% during the fourth quarter. Handelsbanken Fonder AB now owns 1,923,087 shares of the network equipment provider’s stock worth $97,154,000 after acquiring an additional 143,787 shares during the period. Nikulski Financial Inc. raised its position in Cisco Systems by 10.4% during the fourth quarter. Nikulski Financial Inc. now owns 4,143 shares of the network equipment provider’s stock worth $209,000 after acquiring an additional 390 shares during the period. Finally, Ramsay Stattman Vela & Price Inc. raised its position in Cisco Systems by 6.4% during the fourth quarter. Ramsay Stattman Vela & Price Inc. now owns 123,507 shares of the network equipment provider’s stock worth $6,240,000 after acquiring an additional 7,415 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CSCO. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the stock 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. Rosenblatt Securities upped their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, Barclays dropped their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.89.

Cisco Systems Stock Up 0.1 %

NASDAQ:CSCO traded up $0.07 during mid-day trading on Wednesday, hitting $50.31. The stock had a trading volume of 5,542,618 shares, compared to its average volume of 19,816,365. The stock has a 50-day simple moving average of $46.91 and a two-hundred day simple moving average of $47.86. The company has a market capitalization of $202.69 billion, a PE ratio of 16.95, a PEG ratio of 2.97 and a beta of 0.85. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $58.19. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating 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 net margin of 21.88% and a return on equity of 30.82%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.18%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at approximately $14,659,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,004 shares of company stock worth $4,348,600. Insiders own 0.02% of the company’s stock.

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.