United Capital Management of KS Inc. Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

United Capital Management of KS Inc. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,164 shares of the network equipment provider’s stock after buying an additional 1,172 shares during the period. United Capital Management of KS Inc.’s holdings in Cisco Systems were worth $958,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Intact Investment Management Inc. lifted its stake in shares of Cisco Systems by 10.5% during the 2nd quarter. Intact Investment Management Inc. now owns 296,330 shares of the network equipment provider’s stock worth $14,079,000 after acquiring an additional 28,230 shares during the last quarter. Integrity Financial Corp WA lifted its position in shares of Cisco Systems by 48.6% during the second quarter. Integrity Financial Corp WA now owns 9,175 shares of the network equipment provider’s stock worth $436,000 after purchasing an additional 3,000 shares during the last quarter. Fonville Wealth Management LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at $216,000. Navalign LLC boosted its stake in shares of Cisco Systems by 2.6% during the second quarter. Navalign LLC now owns 16,273 shares of the network equipment provider’s stock valued at $773,000 after purchasing an additional 412 shares during the period. Finally, Bryn Mawr Capital Management LLC grew its holdings in shares of Cisco Systems by 9.7% in the second quarter. Bryn Mawr Capital Management LLC now owns 434,279 shares of the network equipment provider’s stock worth $20,604,000 after purchasing an additional 38,502 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted 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. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. Oppenheimer upped their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Finally, BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Price Performance

NASDAQ CSCO opened at $50.54 on Friday. The firm’s fifty day simple moving average is $47.62 and its two-hundred day simple moving average is $47.92. The firm has a market capitalization of $203.62 billion, a P/E ratio of 17.02, a P/E/G ratio of 3.98 and a beta of 0.85. 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 $58.19.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. The disclosure for this sale can be found here. Insiders sold 71,944 shares of company stock worth $3,566,120 in the last three months. Corporate 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.