ZWJ Investment Counsel Inc. Buys 19,270 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

ZWJ Investment Counsel Inc. increased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 900,866 shares of the network equipment provider's stock after acquiring an additional 19,270 shares during the period. Cisco Systems comprises about 2.0% of ZWJ Investment Counsel Inc.'s investment portfolio, making the stock its 22nd biggest holding. ZWJ Investment Counsel Inc.'s holdings in Cisco Systems were worth $47,944,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Swedbank AB bought a new stake in Cisco Systems during the first quarter valued at about $840,538,000. Dimensional Fund Advisors LP grew its holdings in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider's stock valued at $1,254,739,000 after purchasing an additional 4,843,146 shares during the period. Natixis grew its holdings in Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider's stock valued at $245,806,000 after purchasing an additional 4,010,228 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Cisco Systems by 26.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider's stock valued at $691,678,000 after purchasing an additional 2,906,357 shares during the period. Finally, Capitolis Liquid Global Markets LLC grew its holdings in Cisco Systems by 318.4% during the first quarter. Capitolis Liquid Global Markets LLC now owns 3,782,100 shares of the network equipment provider's stock valued at $188,765,000 after purchasing an additional 2,878,100 shares during the period. Institutional investors own 73.33% of the company's stock.

Cisco Systems Trading Up 0.0 %

Shares of NASDAQ CSCO traded up $0.02 during midday trading on Thursday, hitting $56.40. The company's stock had a trading volume of 18,383,127 shares, compared to its average volume of 19,189,203. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business's 50 day moving average is $50.73 and its two-hundred day moving average is $48.50. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $56.58. The firm has a market cap of $227.23 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 4.22 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 for the quarter, topping 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 firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The company's revenue for the quarter was down 10.3% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.84%. Cisco Systems's payout ratio is currently 53.87%.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a research note on Thursday, August 15th. Citigroup raised Cisco Systems from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $52.00 to $62.00 in a research note on Wednesday. New Street Research raised Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $53.00 to $55.00 and gave the stock 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, Tigress Financial upped their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Hold" and an average target price of $56.74.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last ninety days. 0.02% of the stock is owned by company 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.