PFS Partners LLC Sells 1,015 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

PFS Partners LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 19.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,100 shares of the network equipment provider’s stock after selling 1,015 shares during the quarter. PFS Partners LLC’s holdings in Cisco Systems were worth $218,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CSCO. Summit Securities Group LLC bought a new position in shares of Cisco Systems in the second quarter worth about $25,000. Quarry LP boosted its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the second quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. Rosenblatt Securities lifted their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average target price of $56.74.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last quarter. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $58.06 on Friday. The firm has a market capitalization of $231.70 billion, a P/E ratio of 22.86, a PEG ratio of 4.63 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $58.30. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $53.30 and a 200 day moving average price of $49.40.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate 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 firm posted $1.01 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 62.99%.

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.