Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Lewis Asset Management LLC

Lewis Asset Management LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 23.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,408 shares of the network equipment provider’s stock after purchasing an additional 1,205 shares during the period. Lewis Asset Management LLC’s holdings in Cisco Systems were worth $341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. China Universal Asset Management Co. Ltd. increased its stake in Cisco Systems by 226.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after purchasing an additional 18,339 shares in the last quarter. PFG Advisors raised its stake in Cisco Systems by 3.7% in the 1st quarter. PFG Advisors now owns 21,311 shares of the network equipment provider’s stock worth $1,064,000 after acquiring an additional 752 shares during the last quarter. Nelson Capital Management LLC grew its stake in Cisco Systems by 1.9% during the 1st quarter. Nelson Capital Management LLC now owns 120,110 shares of the network equipment provider’s stock valued at $5,995,000 after purchasing an additional 2,213 shares during the last quarter. Equity Investment Corp raised its stake in shares of Cisco Systems by 0.5% in the first quarter. Equity Investment Corp now owns 1,128,571 shares of the network equipment provider’s stock worth $56,327,000 after purchasing an additional 6,006 shares during the last quarter. Finally, Nvwm LLC lifted its holdings in shares of Cisco Systems by 4.2% during the first quarter. Nvwm LLC now owns 24,434 shares of the network equipment provider’s stock worth $1,220,000 after purchasing an additional 976 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems 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 sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. 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. 0.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CSCO shares. Tigress Financial raised their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Evercore ISI upped their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note 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. Finally, HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Stock Up 0.4 %

CSCO opened at $58.08 on Friday. The company has a market cap of $231.78 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $58.30. The company has a 50-day moving average price of $53.00 and a 200 day moving average price of $49.27. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business 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 revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 earnings per share. Sell-side analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.75%. Cisco Systems’s dividend payout ratio is presently 62.99%.

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.