Joel Isaacson & Co. LLC Decreases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Joel Isaacson & Co. LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,369 shares of the network equipment provider’s stock after selling 620 shares during the period. Joel Isaacson & Co. LLC’s holdings in Cisco Systems were worth $1,350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Waypoint Capital Advisors LLC increased its stake in Cisco Systems by 2.9% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after purchasing an additional 182 shares during the period. Meridian Financial Partners LLC lifted its holdings in Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock worth $267,000 after buying an additional 185 shares during the period. Gleason Group Inc. grew its position in shares of Cisco Systems by 0.9% in the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after buying an additional 193 shares during the last quarter. Cassia Capital Partners LLC raised its holdings in shares of Cisco Systems by 1.5% during the third quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock valued at $696,000 after acquiring an additional 195 shares in the last quarter. Finally, Cypress Wealth Services LLC lifted its stake in Cisco Systems by 1.7% in the third quarter. Cypress Wealth Services LLC now owns 12,161 shares of the network equipment provider’s stock worth $647,000 after acquiring an additional 198 shares during the period. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $55.74 on Friday. The business has a 50-day moving average price of $52.12 and a 200-day moving average price of $48.87. The firm has a market cap of $224.57 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve 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 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business 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 quarter in the previous year, the company earned $1.01 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company 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 of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. 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 is available through this link. In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated 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 of the company’s stock, valued at approximately $2,376,085.52. This represents 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 sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on CSCO shares. Citigroup upgraded shares of 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 report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the stock 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. Rosenblatt Securities lifted their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.74.

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.