Masso Torrence Wealth Management Inc. Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Masso Torrence Wealth Management Inc. reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,019 shares of the network equipment provider’s stock after selling 295 shares during the period. Masso Torrence Wealth Management Inc.’s holdings in Cisco Systems were worth $427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after acquiring an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after acquiring an additional 162,544 shares during the period. Valmark Advisers Inc. raised its holdings in shares of Cisco Systems by 4.7% during the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its position in Cisco Systems by 2.4% during the first quarter. Cornerstone Wealth Management LLC now owns 38,053 shares of the network equipment provider’s stock valued at $1,899,000 after purchasing an additional 889 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have 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 target price for the company in a research report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price objective 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. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Price Performance

Cisco Systems stock traded down $0.22 during midday trading on Friday, reaching $55.74. 14,680,466 shares of the stock traded hands, compared to its average volume of 19,091,068. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06. The stock’s fifty day moving average is $52.12 and its 200-day moving average is $48.87. The stock has a market cap of $224.57 billion, a P/E ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

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.