Concurrent Investment Advisors LLC Increases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Concurrent Investment Advisors LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 230,599 shares of the network equipment provider's stock after acquiring an additional 12,210 shares during the period. Concurrent Investment Advisors LLC's holdings in Cisco Systems were worth $12,272,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in shares of Cisco Systems in the second quarter valued at approximately $25,000. Quarry LP increased its position in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC increased its position 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 valued at $31,000 after acquiring an additional 309 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems during the second quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC increased its position in shares of Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock valued at $42,000 after acquiring an additional 766 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. 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 at this hyperlink. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last 90 days. Corporate insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Evercore ISI increased 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. JPMorgan Chase & Co. increased their price target on Cisco Systems from $53.00 to $55.00 and gave the company a "hold" rating in a research 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 Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Barclays decreased their target price on Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating for the company in a research report on Thursday, August 15th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Cisco Systems in a research report on Thursday, August 15th. Thirteen 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $56.74.

Cisco Systems Price Performance

CSCO traded up $1.71 on Wednesday, reaching $57.87. The company had a trading volume of 20,501,519 shares, compared to its average volume of 18,985,916. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $58.08. The company has a market cap of $230.94 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 4.60 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The business has a 50 day simple moving average of $53.00 and a 200 day simple moving average of $49.27.

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

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. Cisco Systems's payout ratio is 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.