Abich Financial Wealth Management LLC Buys 4,511 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Abich Financial Wealth Management LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1,153.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,902 shares of the network equipment provider’s stock after purchasing an additional 4,511 shares during the period. Cisco Systems accounts for 0.2% of Abich Financial Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. Abich Financial Wealth Management LLC’s holdings in Cisco Systems were worth $233,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Cisco Systems in 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 worth $36,000 after buying an additional 263 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter worth approximately $36,000. Redmont Wealth Advisors LLC acquired a new position in Cisco Systems in the first quarter valued at approximately $41,000. Finally, Iron Horse Wealth Management LLC boosted its stake in Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased 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. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.00.

Cisco Systems Stock Up 0.6 %

Shares of Cisco Systems stock opened at $52.52 on Wednesday. The firm has a market cap of $209.59 billion, a PE ratio of 17.68, a P/E/G ratio of 4.11 and a beta of 0.83. The business’s 50 day simple moving average is $48.72 and its 200 day simple moving average is $48.08. 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 52-week low of $44.50 and a 52-week high of $54.58.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for 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%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was 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 $6,501,957.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now 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 at this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s 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 transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by insiders.

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.