Cisco Systems, Inc. (NASDAQ:CSCO) Position Raised by Intact Investment Management Inc.

Intact Investment Management Inc. increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,230 shares of the network equipment provider’s stock after buying an additional 28,900 shares during the quarter. Intact Investment Management Inc.’s holdings in Cisco Systems were worth $17,309,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BSW Wealth Partners grew its holdings in Cisco Systems by 4.4% in the 3rd quarter. BSW Wealth Partners now owns 6,879 shares of the network equipment provider’s stock worth $366,000 after buying an additional 290 shares in the last quarter. Minneapolis Portfolio Management Group LLC grew its holdings in Cisco Systems by 23.2% in the 3rd quarter. Minneapolis Portfolio Management Group LLC now owns 578,132 shares of the network equipment provider’s stock worth $30,768,000 after buying an additional 109,025 shares in the last quarter. Van ECK Associates Corp boosted its stake in Cisco Systems by 3.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,179,202 shares of the network equipment provider’s stock valued at $66,365,000 after purchasing an additional 40,791 shares in the last quarter. Fort Pitt Capital Group LLC increased its position in shares of Cisco Systems by 3.9% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 82,628 shares of the network equipment provider’s stock valued at $4,397,000 after purchasing an additional 3,109 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Cisco Systems by 0.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,809 shares of the network equipment provider’s stock worth $2,491,000 after buying an additional 226 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the company 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. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Tigress Financial raised their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $56.74.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, 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. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last ninety days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $55.50 on Monday. The firm has a 50-day moving average price of $52.63 and a 200 day moving average price of $49.10. The firm has a market capitalization of $221.49 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 4.54 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 2.89 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. Investors of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. Cisco Systems’s payout ratio is 62.99%.

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.