SPC Financial Inc. Has $2.74 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

SPC Financial Inc. cut its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,753 shares of the network equipment provider’s stock after selling 1,120 shares during the period. SPC Financial Inc.’s holdings in Cisco Systems were worth $2,744,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC bought a new position in shares of Cisco Systems in the second quarter valued at about $25,000. Quarry LP increased 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 acquiring an additional 456 shares in the last quarter. Retirement Group LLC raised its stake in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter worth approximately $36,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Cisco Systems during the 1st quarter worth $41,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $53.22 on Tuesday. The firm’s fifty day moving average price is $49.14 and its two-hundred day moving average price is $48.16. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.58. The firm has a market capitalization of $214.41 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s 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 $8,181,307.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CSCO. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Piper Sandler restated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of 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. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $55.00.

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.