Stockman Wealth Management Inc. Buys 17,946 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Stockman Wealth Management Inc. lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 253,478 shares of the network equipment provider’s stock after acquiring an additional 17,946 shares during the period. Cisco Systems accounts for about 2.1% of Stockman Wealth Management Inc.’s investment portfolio, making the stock its 13th largest position. Stockman Wealth Management Inc.’s holdings in Cisco Systems were worth $13,490,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CSCO. Tyler Stone Wealth Management boosted its stake in Cisco Systems by 88.8% in the 3rd quarter. Tyler Stone Wealth Management now owns 5,435 shares of the network equipment provider’s stock valued at $289,000 after buying an additional 2,556 shares in the last quarter. Baker Avenue Asset Management LP raised its position in Cisco Systems by 21.7% in the 3rd quarter. Baker Avenue Asset Management LP now owns 16,235 shares of the network equipment provider’s stock valued at $864,000 after purchasing an additional 2,894 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Cisco Systems by 2.5% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 64,055 shares of the network equipment provider’s stock valued at $3,409,000 after purchasing an additional 1,582 shares during the last quarter. Riverstone Advisors LLC bought a new position in Cisco Systems in the 3rd quarter valued at $209,000. Finally, Legacy Capital Wealth Partners LLC raised its position in Cisco Systems by 105.3% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 26,467 shares of the network equipment provider’s stock valued at $1,409,000 after purchasing an additional 13,572 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CSCO has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Tigress Financial upped their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective 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. Thirteen investment analysts have rated the stock with a hold rating, nine 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 $56.74.

Cisco Systems Trading Down 0.0 %

Shares of CSCO stock traded down $0.02 during mid-day trading on Friday, hitting $58.06. The company’s stock had a trading volume of 17,517,686 shares, compared to its average volume of 16,469,526. The company has a market cap of $231.70 billion, a PE ratio of 22.86, a P/E/G ratio of 4.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $58.30. The company’s fifty day simple moving average is $53.30 and its 200-day simple moving average is $49.41.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is owned by company insiders.

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.