IFG Advisory LLC Grows Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

IFG Advisory LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,240 shares of the network equipment provider’s stock after purchasing an additional 5,215 shares during the quarter. IFG Advisory LLC’s holdings in Cisco Systems were worth $3,480,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Concurrent Investment Advisors LLC boosted its stake in Cisco Systems by 45.1% during the second quarter. Concurrent Investment Advisors LLC now owns 218,389 shares of the network equipment provider’s stock valued at $10,376,000 after buying an additional 67,915 shares during the last quarter. Rothschild Investment LLC bought a new position in Cisco Systems during the second quarter valued at approximately $7,509,000. United Capital Management of KS Inc. boosted its stake in Cisco Systems by 6.2% during the second quarter. United Capital Management of KS Inc. now owns 20,164 shares of the network equipment provider’s stock valued at $958,000 after buying an additional 1,172 shares during the last quarter. Intact Investment Management Inc. boosted its stake in Cisco Systems by 10.5% during the second quarter. Intact Investment Management Inc. now owns 296,330 shares of the network equipment provider’s stock valued at $14,079,000 after buying an additional 28,230 shares during the last quarter. Finally, Integrity Financial Corp WA boosted its stake in Cisco Systems by 48.6% during the second quarter. Integrity Financial Corp WA now owns 9,175 shares of the network equipment provider’s stock valued at $436,000 after buying an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 0.3 %

Cisco Systems stock opened at $50.54 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The stock has a market capitalization of $203.62 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 3.98 and a beta of 0.85. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.19. The business has a fifty day moving average price of $47.62 and a 200-day moving average price of $47.91.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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. The firm 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 business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. Equities research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company 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 dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.17%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The stock was 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 approximately $33,794,278.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Maria Victoria Wong sold 3,379 shares of the business’s 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 completion of the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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. In the last 90 days, insiders sold 71,944 shares of company stock valued at $3,566,120. 0.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on CSCO. JPMorgan Chase & Co. raised 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. Wells Fargo & Company raised their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. Oppenheimer raised their price objective on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock 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.