Clifford Capital Partners LLC Purchases 43,311 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Clifford Capital Partners LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 21.4% during the second quarter, HoldingsChannel.com reports. The firm owned 245,953 shares of the network equipment provider’s stock after buying an additional 43,311 shares during the period. Cisco Systems accounts for about 2.5% of Clifford Capital Partners LLC’s investment portfolio, making the stock its 27th largest holding. Clifford Capital Partners LLC’s holdings in Cisco Systems were worth $11,685,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CSCO. Verity & Verity LLC raised its position in Cisco Systems by 5.1% in the second quarter. Verity & Verity LLC now owns 328,666 shares of the network equipment provider’s stock worth $15,615,000 after purchasing an additional 15,848 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of Cisco Systems by 25.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 6,617 shares of the network equipment provider’s stock valued at $314,000 after purchasing an additional 1,358 shares during the period. Brightwater Advisory LLC acquired a new position in shares of Cisco Systems in the 2nd quarter worth approximately $245,000. Heritage Wealth Management Inc. acquired a new stake in Cisco Systems in the 2nd quarter valued at $2,954,000. Finally, Sanctuary Advisors LLC bought a new stake in Cisco Systems in the second quarter valued at $41,685,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. 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 90 days. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

CSCO stock opened at $52.74 on Wednesday. The business has a 50 day moving average of $49.26 and a 200-day moving average of $48.19. The firm has a market cap of $212.48 billion, a PE ratio of 17.76, a P/E/G ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $54.58. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the firm earned $1.01 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. As a group, sell-side analysts expect 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. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.03%. Cisco Systems’s dividend payout ratio is 53.87%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CSCO. Piper Sandler reissued a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group reduced their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price objective 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. JPMorgan Chase & Co. boosted their target price on 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. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from 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.