Abacus Planning Group Inc. Sells 3,458 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Abacus Planning Group Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 24.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,492 shares of the network equipment provider’s stock after selling 3,458 shares during the quarter. Abacus Planning Group Inc.’s holdings in Cisco Systems were worth $558,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Cisco Systems during the second quarter valued at about $25,000. Quarry LP raised its stake in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. Retirement Group LLC boosted its holdings in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems in the second quarter valued at approximately $36,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $52.62 on Thursday. The business’s fifty day moving average is $49.38 and its 200 day moving average is $48.22. The firm has a market cap of $212.00 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 4.11 and a beta of 0.83. 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 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. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.04%. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was 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 in the company, valued at $2,258,974.53. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The stock was 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 owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CSCO shares. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a 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 company a “hold” rating in a research note on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Evercore ISI lifted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their price objective on Cisco Systems from $53.00 to $55.00 and gave the stock 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. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.00.

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.