Cisco Systems, Inc. (NASDAQ:CSCO) is Clean Yield Group's 10th Largest Position

Clean Yield Group lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 122,670 shares of the network equipment provider's stock after purchasing an additional 15,714 shares during the quarter. Cisco Systems accounts for approximately 2.1% of Clean Yield Group's holdings, making the stock its 10th biggest holding. Clean Yield Group's holdings in Cisco Systems were worth $6,529,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Cisco Systems during the second quarter worth $25,000. Quarry LP grew its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 456 shares during the last quarter. Retirement Group LLC grew its holdings in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider's stock worth $36,000 after acquiring an additional 263 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems in the second quarter worth about $36,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Cisco Systems in the first quarter worth about $41,000. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Stock Performance

Cisco Systems stock traded up $0.22 during trading hours on Tuesday, hitting $52.73. The company had a trading volume of 12,365,014 shares, compared to its average volume of 19,289,195. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $54.58. The firm has a 50-day moving average of $49.67 and a 200 day moving average of $48.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a market cap of $212.44 billion, a PE ratio of 17.75, a PEG ratio of 4.11 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.64 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The firm's revenue for the quarter was down 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.03%. Cisco Systems's dividend payout ratio is currently 53.87%.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were 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 in the company, valued at $33,794,278.35. This trade represents 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. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm'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 directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares of the company's stock, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CSCO. HSBC raised shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on 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. Evercore ISI boosted their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group dropped their price target on shares of Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems currently has an average rating of "Hold" and an average price target of $55.00.

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.