MRA Advisory Group Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

MRA Advisory Group trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,688 shares of the network equipment provider’s stock after selling 980 shares during the period. MRA Advisory Group’s holdings in Cisco Systems were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Abacus Wealth Partners LLC grew its stake in Cisco Systems by 6.0% during the 3rd quarter. Abacus Wealth Partners LLC now owns 6,902 shares of the network equipment provider’s stock valued at $367,000 after purchasing an additional 390 shares during the last quarter. Apella Capital LLC boosted its position in Cisco Systems by 2.2% in the third quarter. Apella Capital LLC now owns 11,194 shares of the network equipment provider’s stock valued at $589,000 after buying an additional 242 shares during the last quarter. Johnson & White Wealth Management LLC increased its holdings in Cisco Systems by 11.5% in the 3rd quarter. Johnson & White Wealth Management LLC now owns 13,762 shares of the network equipment provider’s stock worth $732,000 after buying an additional 1,424 shares during the period. Canandaigua National Bank & Trust Co. raised its position in Cisco Systems by 2.4% during the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 110,346 shares of the network equipment provider’s stock worth $5,873,000 after buying an additional 2,586 shares during the last quarter. Finally, Farmers Trust Co. lifted its stake in Cisco Systems by 1.6% during the 3rd quarter. Farmers Trust Co. now owns 177,147 shares of the network equipment provider’s stock valued at $9,428,000 after acquiring an additional 2,737 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.4 %

CSCO stock opened at $52.43 on Friday. 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 has a 50-day moving average of $49.48 and a two-hundred day moving average of $48.25. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $54.58. The company has a market cap of $211.23 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 4.11 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion during 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 for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 earnings per share. As a group, analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.05%. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSCO. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. Rosenblatt Securities upped their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their target price 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. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.00.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were 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 $2,258,974.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by company insiders.

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.