Gallacher Capital Management LLC Purchases New Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Gallacher Capital Management LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 11,123 shares of the network equipment provider’s stock, valued at approximately $528,000.

Several other hedge funds also recently added to or reduced their stakes in CSCO. Gilbert & Cook Inc. raised its position in shares of Cisco Systems by 1.1% during the 4th quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after acquiring an additional 264 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in shares of Cisco Systems by 104.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock worth $1,177,000 after purchasing an additional 11,767 shares during the period. AGF Management Ltd. lifted its position in shares of Cisco Systems by 972.2% in the 4th quarter. AGF Management Ltd. now owns 645,000 shares of the network equipment provider’s stock worth $32,585,000 after buying an additional 584,846 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Cisco Systems by 1.1% in the 4th quarter. Johnson Investment Counsel Inc. now owns 239,456 shares of the network equipment provider’s stock worth $12,097,000 after buying an additional 2,546 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in shares of Cisco Systems by 7.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 8,529 shares of the network equipment provider’s stock worth $431,000 after buying an additional 626 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,944 shares of company stock worth $3,566,120. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

NASDAQ CSCO opened at $48.50 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.09. The firm has a market capitalization of $195.40 billion, a PE ratio of 16.33, a P/E/G ratio of 3.98 and a beta of 0.83. The company’s 50 day simple moving average is $47.84 and its 200 day simple moving average is $47.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CSCO shares. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on 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. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.