Great Diamond Partners LLC Sells 3,770 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Great Diamond Partners LLC reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 38.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,944 shares of the network equipment provider’s stock after selling 3,770 shares during the quarter. Great Diamond Partners LLC’s holdings in Cisco Systems were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Adell Harriman & Carpenter Inc. grew its position in Cisco Systems by 6.4% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 193,806 shares of the network equipment provider’s stock valued at $10,314,000 after purchasing an additional 11,657 shares during the last quarter. Avitas Wealth Management LLC increased its position in shares of Cisco Systems by 1.4% during the third quarter. Avitas Wealth Management LLC now owns 36,963 shares of the network equipment provider’s stock valued at $1,967,000 after acquiring an additional 518 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in Cisco Systems by 2.6% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 33,858 shares of the network equipment provider’s stock worth $1,802,000 after acquiring an additional 847 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in Cisco Systems by 7.6% in the 3rd quarter. Fidelis Capital Partners LLC now owns 63,799 shares of the network equipment provider’s stock valued at $3,591,000 after acquiring an additional 4,510 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its stake in Cisco Systems by 3.0% during the 3rd quarter. Valmark Advisers Inc. now owns 42,090 shares of the network equipment provider’s stock valued at $2,240,000 after purchasing an additional 1,227 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CSCO shares. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on shares of 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. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Rosenblatt Securities boosted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.74.

Cisco Systems Stock Performance

CSCO opened at $55.59 on Thursday. The firm has a market cap of $221.84 billion, a P/E ratio of 21.89, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The company has a 50 day simple moving average of $52.44 and a two-hundred day simple moving average of $49.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 EPS. Equities analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 62.99%.

Insider Activity

In related news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the executive vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last quarter. Insiders own 0.01% of the company’s stock.

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.