AM Investment Strategies LLC Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

AM Investment Strategies LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,054 shares of the network equipment provider’s stock after selling 690 shares during the period. AM Investment Strategies LLC’s holdings in Cisco Systems were worth $429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CSCO. Waypoint Capital Advisors LLC boosted its holdings in Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after purchasing an additional 182 shares in the last quarter. Andina Capital Management LLC lifted its position in shares of Cisco Systems by 3.6% during the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock worth $279,000 after buying an additional 182 shares during the period. Meridian Financial Partners LLC boosted its stake in Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after buying an additional 185 shares in the last quarter. Gleason Group Inc. grew its position in Cisco Systems by 0.9% in 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 stake 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 acquiring an additional 195 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 1.3 %

Shares of Cisco Systems stock traded up $0.73 during trading on Friday, reaching $55.50. 19,235,612 shares of the company were exchanged, compared to its average volume of 19,047,523. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The business has a 50-day moving average price of $52.63 and a 200-day moving average price of $49.09. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $221.49 billion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 4.61 and a beta 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, beating analysts’ consensus estimates of $0.85 by $0.02. The business 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%. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on shares of 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. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $56.74.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s 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 sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This 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, SVP Maria Victoria Wong sold 3,379 shares of the business’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 value of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.01% of the company’s stock.

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.