Mayflower Financial Advisors LLC Sells 2,095 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mayflower Financial Advisors LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,084 shares of the network equipment provider’s stock after selling 2,095 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Cisco Systems were worth $1,601,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price target on shares of Cisco Systems from $53.00 to $55.00 and gave the stock 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. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has an average rating of “Hold” and an average target price of $56.74.

Cisco Systems Trading Down 0.0 %

Shares of CSCO opened at $58.06 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.30. 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’s 50-day moving average price is $53.30 and its 200-day moving average price is $49.40. The firm has a market capitalization of $231.70 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 4.79 and a beta of 0.83.

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, beating the consensus estimate of $0.85 by $0.02. The business 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 business’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders 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 presently 62.99%.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade 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 is accessible through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last three months. 0.01% of the stock is currently owned by company insiders.

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.