Brown Brothers Harriman & Co. Purchases 19,338 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Brown Brothers Harriman & Co. lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 19.0% during the second quarter, Holdings Channel reports. The firm owned 121,055 shares of the network equipment provider’s stock after acquiring an additional 19,338 shares during the period. Brown Brothers Harriman & Co.’s holdings in Cisco Systems were worth $5,751,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. Summit Securities Group LLC purchased a new stake in Cisco Systems during the second quarter worth about $25,000. Retirement Group LLC grew its position in shares of Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Tidemark LLC bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $41,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Cisco Systems in the first quarter valued at approximately $41,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CSCO shares. Rosenblatt Securities raised their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a 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 assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.89.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $51.03 on Tuesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $56.28. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $205.59 billion, a P/E ratio of 17.18, a PEG ratio of 3.87 and a beta of 0.83. The business’s 50-day moving average price is $48.15 and its two-hundred day moving average price is $47.98.

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

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.14%. Cisco Systems’s dividend payout ratio is presently 53.87%.

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.