Investment Partners LTD. Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Investment Partners LTD. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 38.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,847 shares of the network equipment provider’s stock after selling 8,498 shares during the period. Investment Partners LTD.’s holdings in Cisco Systems were worth $658,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CSCO. Summit Securities Group LLC purchased a new stake in Cisco Systems in the second quarter worth $25,000. Retirement Group LLC increased its stake in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter valued at about $36,000. Tidemark LLC bought a new stake in Cisco Systems during the fourth quarter worth about $41,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Cisco Systems in the first quarter worth about $41,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Up 0.7 %

Cisco Systems stock opened at $49.11 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $197.86 billion, a P/E ratio of 16.54, a P/E/G ratio of 3.82 and a beta of 0.83. The business has a 50-day simple moving average of $47.94 and a two-hundred day simple moving average of $47.94. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.86.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the firm earned $1.01 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value 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 approximately $2,376,085.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Insiders have sold 68,563 shares of company stock valued at $3,412,764 over the last quarter. 0.02% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. JPMorgan Chase & Co. boosted 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. Barclays cut their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Rosenblatt Securities lifted their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research 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, StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. 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 MarketBeat.com, Cisco Systems 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.