Joule Financial LLC Buys 13,164 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Joule Financial LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 143.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,353 shares of the network equipment provider’s stock after acquiring an additional 13,164 shares during the quarter. Joule Financial LLC’s holdings in Cisco Systems were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after acquiring an additional 1,853,598 shares during the period. Legal & General Group Plc grew its stake in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after purchasing an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP lifted its stake in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after buying an additional 4,843,146 shares during the period. Swedbank AB bought a new position in shares of Cisco Systems during the 1st quarter worth approximately $840,538,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Cisco Systems by 26.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after buying an additional 2,906,357 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the topic of several research analyst reports. Tigress Financial increased their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company 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. Evercore ISI raised their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft upped their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group cut their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Price Performance

Shares of CSCO traded up $0.15 during midday trading on Friday, reaching $56.55. The stock had a trading volume of 3,589,764 shares, compared to its average volume of 19,109,773. The company has a market capitalization of $227.83 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 4.22 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, Inc. has a 12-month low of $44.50 and a 12-month high of $56.59. The company’s 50-day moving average is $50.95 and its 200 day moving average is $48.56.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate 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 business’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders 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 2.83%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems 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 owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

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.