Impax Asset Management Group plc Has $9.75 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Impax Asset Management Group plc lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,179 shares of the network equipment provider's stock after selling 26,159 shares during the quarter. Impax Asset Management Group plc's holdings in Cisco Systems were worth $9,749,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $25,000. West Financial Advisors LLC lifted its stake in 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 buying an additional 309 shares in the last quarter. Quarry LP boosted its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems in the second quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC lifted its position in shares of Cisco Systems by 617.7% in the 2nd 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 in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Tigress Financial boosted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, October 14th. JPMorgan Chase & Co. lifted their target price 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. Piper Sandler reissued a "neutral" rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, August 16th. Finally, New Street Research upgraded Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. Thirteen investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $56.74.

Cisco Systems Stock Up 0.6 %

CSCO opened at $56.16 on Wednesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The firm has a market cap of $224.12 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 4.60 and a beta of 0.83. The firm's 50-day simple moving average is $52.84 and its 200-day simple moving average is $49.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company's revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. Equities research analysts anticipate 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 paid a $0.40 dividend. 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 2.85%. Cisco Systems's dividend payout ratio is 62.99%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now 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 SEC, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was 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 $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company's stock, valued at $6,501,957.20. 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 valued at $3,509,049 in the last 90 days. 0.01% of the stock is currently owned by insiders.

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.