Vest Financial LLC Has $32.74 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Vest Financial LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 17.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 615,109 shares of the network equipment provider's stock after purchasing an additional 89,523 shares during the period. Vest Financial LLC's holdings in Cisco Systems were worth $32,736,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in Cisco Systems during the 2nd quarter worth $25,000. Quarry LP boosted its holdings 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 period. West Financial Advisors LLC grew 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 worth $31,000 after acquiring an additional 309 shares during the last quarter. Retirement Group LLC increased its holdings in shares of Cisco Systems by 56.8% in 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 period. Finally, Hobbs Group Advisors LLC bought a new stake in Cisco Systems in the 2nd quarter valued at about $36,000. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares of the company's stock, valued at $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company's stock in a transaction dated 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 directly owns 683,403 shares in the company, valued at approximately $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. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last quarter. Company insiders own 0.02% of the company's stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the stock 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. Barclays decreased their price objective on Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday, August 15th. Rosenblatt Securities lifted their target price on Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Jefferies Financial Group reduced their price target on Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Finally, HSBC raised 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. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Hold" and a consensus target price of $56.74.

Cisco Systems Price Performance

Shares of CSCO traded up $0.36 during trading hours on Friday, hitting $56.76. 17,679,841 shares of the company were exchanged, compared to its average volume of 19,181,732. 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 company has a market capitalization of $228.68 billion, a PE ratio of 19.11, a PEG ratio of 4.22 and a beta of 0.83. The firm has a fifty day simple moving average of $51.17 and a 200-day simple moving average of $48.60. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $56.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $13.53 billion. During the same quarter last year, the company posted $1.01 EPS. Cisco Systems's revenue for the quarter was down 10.3% on a year-over-year basis. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems's dividend payout ratio (DPR) is currently 53.87%.

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.