Milestone Asset Management LLC Acquires 7,771 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Milestone Asset Management LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 27.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 35,645 shares of the network equipment provider’s stock after acquiring an additional 7,771 shares during the period. Milestone Asset Management LLC’s holdings in Cisco Systems were worth $1,694,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Norges Bank bought a new position in shares of Cisco Systems during the 4th quarter worth about $2,528,939,000. Swedbank AB bought a new position in Cisco Systems during the 1st quarter valued at about $840,538,000. Charles Schwab Investment Management Inc. lifted its holdings in Cisco Systems by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after purchasing an additional 6,345,954 shares during the last quarter. FIL Ltd lifted its holdings in Cisco Systems by 47.1% during the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after purchasing an additional 6,054,748 shares during the last quarter. Finally, Natixis lifted its holdings in Cisco Systems by 438.4% during the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after purchasing an additional 4,010,228 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday. JPMorgan Chase & Co. lifted 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 lifted their price target for the company from $46.00 to $58.00 in a report on Friday. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Barclays cut their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Trading Up 1.1 %

NASDAQ CSCO traded up $0.52 during trading on Monday, reaching $49.98. 16,165,573 shares of the stock traded hands, compared to its average volume of 19,912,549. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $58.19. The stock’s 50-day moving average price is $46.74 and its 200 day moving average price is $47.86. The firm has a market cap of $201.36 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85.

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, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The business’s revenue was down 10.3% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Insiders have sold a total of 33,090 shares of company stock valued at $1,522,231 over the last 90 days. 0.02% of the stock is owned by corporate insiders.

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.