Cullinan Associates Inc. Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Cullinan Associates Inc. lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 79.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,832 shares of the network equipment provider’s stock after selling 303,684 shares during the quarter. Cullinan Associates Inc.’s holdings in Cisco Systems were worth $4,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Cisco Systems in the second quarter worth about $25,000. West Financial Advisors LLC increased its holdings in Cisco Systems by 116.6% in the 3rd 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 in the last quarter. Quarry LP raised its stake 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 period. Retirement Group LLC lifted its holdings in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems in the second quarter worth approximately $36,000. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were 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 $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 1.0 %

Shares of CSCO traded up $0.54 during midday trading on Friday, hitting $56.50. The stock had a trading volume of 1,137,256 shares, compared to its average volume of 19,025,652. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $57.06. 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 stock’s 50 day moving average is $51.85 and its 200 day moving average is $48.77. The firm has a market cap of $227.63 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83.

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

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.83%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Analyst Ratings Changes

CSCO has been the topic of a number of analyst reports. Jefferies Financial Group lowered their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock 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. 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. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average target price of $56.74.

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.