Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,090 shares of the network equipment provider’s stock after buying an additional 16,830 shares during the period. Daymark Wealth Partners LLC’s holdings in Cisco Systems were worth $19,198,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of Cisco Systems in the first quarter valued at about $840,538,000. FIL Ltd grew its position in Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after acquiring an additional 6,054,748 shares during the period. Dimensional Fund Advisors LP increased its stake in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. Natixis raised its position in Cisco Systems by 438.4% in the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after purchasing an additional 4,010,228 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Cisco Systems by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after purchasing an additional 3,314,330 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Up 0.2 %

Cisco Systems stock opened at $52.65 on Thursday. The stock has a 50 day moving average of $48.72 and a two-hundred day moving average of $48.08. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $54.58. The stock has a market capitalization of $210.11 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 4.11 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Dividend Announcement

The firm 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. This represents a $1.60 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were 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 in the company, valued at $6,501,957.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction 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 SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by company insiders.

Analyst Ratings Changes

CSCO has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. 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 price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Evercore ISI lifted their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.00.

Cisco Systems 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.