Garden State Investment Advisory Services LLC Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Garden State Investment Advisory Services LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 23.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,256 shares of the network equipment provider’s stock after selling 1,279 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Cisco Systems were worth $202,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. grew its holdings in shares of Cisco Systems by 0.3% in the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after purchasing an additional 202 shares during the last quarter. Baker Boyer National Bank grew its holdings in shares of Cisco Systems by 2.6% in the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after purchasing an additional 210 shares during the last quarter. Holland Advisory Services Inc. grew its holdings in shares of Cisco Systems by 5.3% in the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after purchasing an additional 213 shares during the last quarter. WealthPLAN Partners LLC grew its holdings in shares of Cisco Systems by 3.0% in the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after purchasing an additional 213 shares during the last quarter. Finally, Ruedi Wealth Management Inc. grew its holdings in Cisco Systems by 17.6% during the 1st quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock worth $73,000 after acquiring an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

CSCO opened at $51.97 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $54.58. 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 market capitalization of $209.38 billion, a PE ratio of 17.50, a P/E/G ratio of 3.87 and a beta of 0.83. The firm has a 50 day moving average of $48.52 and a two-hundred day moving average of $48.05.

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

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Analyst Ratings Changes

Several research analysts have issued reports on CSCO shares. JPMorgan Chase & Co. increased their target price 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. Jefferies Financial Group dropped their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Evercore ISI increased their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Finally, 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. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.11.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by insiders.

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.