Cisco Systems, Inc. (NASDAQ:CSCO) Stake Reduced by Sivia Capital Partners LLC

Sivia Capital Partners LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,128 shares of the network equipment provider’s stock after selling 314 shares during the period. Sivia Capital Partners LLC’s holdings in Cisco Systems were worth $386,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in Cisco Systems in the 2nd quarter worth approximately $25,000. Retirement Group LLC grew its stake in shares of 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 purchasing an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter valued at $36,000. Tidemark LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $41,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Cisco Systems in the first quarter worth about $41,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Down 1.3 %

Cisco Systems stock opened at $48.50 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.09. 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 capitalization of $195.40 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 3.98 and a beta of 0.83. The company has a 50 day moving average price of $47.84 and a 200 day moving average price of $47.94.

Cisco Systems (NASDAQ:CSCO) last issued its 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 business had revenue of $13.64 billion during 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%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. Research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

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 issued a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio is 53.87%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, 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 sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction dated 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 sale, the chief financial officer now owns 293,184 shares of the company’s stock, valued at $14,659,200. The disclosure for this sale can be found here. Insiders sold 71,944 shares of company stock valued at $3,566,120 over the last three months. 0.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on CSCO. Wells Fargo & Company raised their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a report on Monday, May 13th. 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 research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their target price 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. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.89.

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.