King Luther Capital Management Corp Has $26.90 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

King Luther Capital Management Corp reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 566,197 shares of the network equipment provider’s stock after selling 34,637 shares during the period. King Luther Capital Management Corp’s holdings in Cisco Systems were worth $26,900,000 at the end of the most recent quarter.

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

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at $14,659,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 1.0 %

Cisco Systems stock opened at $51.97 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $54.58. The stock has a market cap of $209.38 billion, a P/E ratio of 17.50, a PEG ratio of 3.87 and a beta of 0.83. The firm’s fifty day moving average price is $48.52 and its 200-day moving average price is $48.05.

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. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the business posted $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. Cisco Systems’s dividend payout ratio is 53.87%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target 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. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. Barclays reduced their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Jefferies Financial Group dropped their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Evercore ISI raised their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.11.

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.