Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the 3rd quarter, Holdings Channel reports. The fund owned 66,528 shares of the network equipment provider’s stock after selling 1,659 shares during the quarter. Forte Capital LLC ADV’s holdings in Cisco Systems were worth $3,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Waypoint Capital Advisors LLC lifted its holdings in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares during the period. Andina Capital Management LLC lifted its stake in shares of Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after acquiring an additional 182 shares during the period. Meridian Financial Partners LLC boosted its holdings in shares of Cisco Systems by 3.8% in the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after acquiring an additional 185 shares in the last quarter. Gleason Group Inc. increased its stake in shares of Cisco Systems by 0.9% during the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock valued at $1,207,000 after acquiring an additional 193 shares during the period. Finally, Cassia Capital Partners LLC raised its holdings in Cisco Systems by 1.5% during the third quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock worth $696,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 3.0 %

CSCO opened at $57.87 on Thursday. The business has a 50-day moving average of $53.00 and a 200-day moving average of $49.27. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $58.08. The company has a market capitalization of $230.94 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 4.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.76%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Insider Activity

In related news, SVP Maria Victoria Wong sold 638 shares of the company’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 completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the company’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 transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CSCO shares. 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 report on Friday, September 20th. Tigress Financial upped their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler reiterated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their target price on 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. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Company 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.