JLB & Associates Inc. Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

JLB & Associates Inc. grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,714 shares of the network equipment provider’s stock after purchasing an additional 1,348 shares during the quarter. JLB & Associates Inc.’s holdings in Cisco Systems were worth $1,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in shares of Cisco Systems during the second quarter valued at about $25,000. Quarry LP increased its holdings in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. Retirement Group LLC raised its position in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems during the 2nd quarter valued at approximately $36,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the first quarter worth $41,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent research reports. Jefferies Financial Group lowered their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note 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. JPMorgan Chase & Co. boosted their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the company 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. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Hold” and an average target price of $55.00.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated 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 transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Trading Down 0.2 %

Shares of CSCO opened at $52.62 on Thursday. The firm’s fifty day moving average is $49.38 and its two-hundred day moving average is $48.22. The stock has a market cap of $212.00 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. 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 $54.58.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. Research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders 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 yield of 3.04%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

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.