L. Roy Papp & Associates LLP Sells 400 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

L. Roy Papp & Associates LLP lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 33,118 shares of the network equipment provider’s stock after selling 400 shares during the period. L. Roy Papp & Associates LLP’s holdings in Cisco Systems were worth $1,573,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Delos Wealth Advisors LLC increased its position in Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 600 shares during the period. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $33,000. Retirement Group LLC raised its stake in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Cisco Systems in the second quarter valued at $36,000. Finally, Tidemark LLC bought a new stake in Cisco Systems during the fourth quarter valued at $41,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares in the company, valued at $14,659,200. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 98,274 shares of company stock valued at $4,764,829. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Up 1.0 %

Shares of CSCO stock traded up $0.52 on Friday, hitting $50.74. The stock had a trading volume of 16,467,266 shares, compared to its average volume of 19,887,607. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.19. The stock has a market cap of $204.42 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The business has a 50 day moving average of $47.10 and a 200 day moving average of $47.90. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

Cisco Systems (NASDAQ:CSCO) last posted its 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 firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CSCO. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, August 15th. Oppenheimer lifted their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of 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. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.89.

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.