Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,045 shares of the network equipment provider’s stock after buying an additional 4,847 shares during the period. Axxcess Wealth Management LLC’s holdings in Cisco Systems were worth $6,986,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CSCO. Swedbank AB purchased a new position in Cisco Systems in the first quarter valued at about $840,538,000. FIL Ltd grew its holdings in shares of Cisco Systems by 47.1% in the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after acquiring an additional 6,054,748 shares during the period. Dimensional Fund Advisors LP increased its stake in Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after purchasing an additional 4,843,146 shares in the last quarter. Natixis raised its holdings in Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after purchasing an additional 4,010,228 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Cisco Systems by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after purchasing an additional 3,314,330 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO opened at $51.03 on Tuesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $56.28. The stock has a market cap of $205.59 billion, a PE ratio of 17.18, a P/E/G ratio of 3.87 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $48.15 and its 200-day simple moving average is $47.98.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 earnings per share. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Insider Activity

In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at $8,181,307.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 in the last quarter. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CSCO shares. 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 note on Thursday, August 15th. Barclays lowered their price target 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. Jefferies Financial Group cut 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. JPMorgan Chase & Co. raised their target price on shares of 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, Rosenblatt Securities boosted their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.89.

Cisco Systems Company 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.