Commonwealth Financial Services LLC Has $974,000 Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Commonwealth Financial Services LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 21,153 shares of the network equipment provider’s stock after selling 2,356 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Cisco Systems were worth $974,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after acquiring an additional 2,663,676 shares during the period. Marcum Wealth LLC grew its stake in Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after buying an additional 943 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after buying an additional 51,924 shares in the last quarter. Inscription Capital LLC increased its holdings in Cisco Systems by 49.4% in the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after buying an additional 15,198 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at approximately $117,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price target 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. JPMorgan Chase & Co. lifted their price target on 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. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Barclays decreased their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Finally, Jefferies Financial Group dropped their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $55.00.

Insider Activity

In related news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction 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 of the company’s stock, valued at $33,794,278.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last ninety days. 0.02% of the stock is owned by company insiders.

Cisco Systems Price Performance

Shares of CSCO opened at $51.97 on Monday. The business has a 50-day moving average of $48.52 and a 200-day moving average of $48.04. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.58. The company has a market capitalization of $209.38 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued 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 firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Cisco Systems Company 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.