Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Key Financial Inc

Key Financial Inc trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,278 shares of the network equipment provider’s stock after selling 472 shares during the period. Key Financial Inc’s holdings in Cisco Systems were worth $1,026,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the second quarter worth approximately $25,000. Quarry LP boosted 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 purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC grew its holdings in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC lifted its stake in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after purchasing an additional 766 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on CSCO shares. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target 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. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. Tigress Financial lifted 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, October 14th. Finally, 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. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $56.74.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Up 1.3 %

Shares of NASDAQ CSCO traded up $0.73 during midday trading on Friday, hitting $55.50. The company’s stock had a trading volume of 19,235,612 shares, compared to its average volume of 19,047,523. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a market capitalization of $221.49 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83. The business’s fifty day simple moving average is $52.63 and its two-hundred day simple moving average is $49.09. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $57.06.

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 business had revenue of $13.64 billion during 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 quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is presently 62.99%.

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.