Telos Capital Management Inc. Sells 108,170 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Telos Capital Management Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 44.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 132,575 shares of the network equipment provider’s stock after selling 108,170 shares during the period. Telos Capital Management Inc.’s holdings in Cisco Systems were worth $7,056,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. AdvisorNet Financial Inc lifted its stake in shares of Cisco Systems by 19.1% in the 1st quarter. AdvisorNet Financial Inc now owns 16,034 shares of the network equipment provider’s stock valued at $800,000 after purchasing an additional 2,577 shares during the last quarter. Global Assets Advisory LLC bought a new stake in Cisco Systems in the first quarter worth $3,344,000. Austin Private Wealth LLC boosted its stake in Cisco Systems by 6.1% during the first quarter. Austin Private Wealth LLC now owns 7,657 shares of the network equipment provider’s stock worth $373,000 after buying an additional 440 shares during the period. New England Professional Planning Group Inc. increased its position in Cisco Systems by 8.8% during the first quarter. New England Professional Planning Group Inc. now owns 7,319 shares of the network equipment provider’s stock valued at $365,000 after acquiring an additional 590 shares during the last quarter. Finally, DLK Investment Management LLC lifted its holdings in shares of Cisco Systems by 2.3% in the 1st quarter. DLK Investment Management LLC now owns 63,065 shares of the network equipment provider’s stock worth $3,148,000 after acquiring an additional 1,393 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value 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. 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 through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the 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 completion of the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Trading Down 0.3 %

CSCO opened at $56.59 on Tuesday. 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 firm has a market cap of $227.99 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06. The stock has a fifty day moving average price of $51.41 and a 200-day moving average price of $48.66.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.83%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

CSCO has been the topic of several analyst reports. Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI upped their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price target 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 analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.74.

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.