Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Diversify Wealth Management LLC

Diversify Wealth Management LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 55,823 shares of the network equipment provider’s stock after purchasing an additional 2,732 shares during the quarter. Diversify Wealth Management LLC’s holdings in Cisco Systems were worth $3,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Cisco Systems by 16.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,288,768 shares of the network equipment provider’s stock valued at $64,322,000 after purchasing an additional 177,588 shares during the last quarter. Azzad Asset Management Inc. ADV increased its stake in Cisco Systems by 3.2% during the first quarter. Azzad Asset Management Inc. ADV now owns 38,156 shares of the network equipment provider’s stock worth $1,904,000 after acquiring an additional 1,193 shares during the last quarter. Hudson Capital Management LLC raised its holdings in shares of Cisco Systems by 4.1% in the 1st quarter. Hudson Capital Management LLC now owns 75,673 shares of the network equipment provider’s stock worth $3,777,000 after purchasing an additional 2,973 shares during the period. DMC Group LLC grew its holdings in shares of Cisco Systems by 4.5% during the 1st quarter. DMC Group LLC now owns 17,988 shares of the network equipment provider’s stock worth $898,000 after purchasing an additional 769 shares during the period. Finally, Kovack Advisors Inc. increased its position in Cisco Systems by 15.7% during the 1st quarter. Kovack Advisors Inc. now owns 26,827 shares of the network equipment provider’s stock worth $1,339,000 after purchasing an additional 3,638 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CSCO. Barclays dropped their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. 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 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. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Monday. Finally, Jefferies Financial Group decreased their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Stock Performance

CSCO stock traded down $0.05 during trading on Wednesday, hitting $55.63. 2,882,585 shares of the company’s stock traded hands, compared to its average volume of 18,983,133. The stock has a fifty day moving average price of $52.34 and a two-hundred day moving average price of $48.95. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $57.06. The stock has a market capitalization of $222.00 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.88%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 62.99%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is owned by insiders.

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.