Nichols & Pratt Advisers LLP MA Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Nichols & Pratt Advisers LLP MA reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 330,837 shares of the network equipment provider’s stock after selling 3,789 shares during the period. Cisco Systems accounts for about 1.1% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 28th largest position. Nichols & Pratt Advisers LLP MA’s holdings in Cisco Systems were worth $15,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Atlantic Union Bankshares Corp raised its stake in Cisco Systems by 19.4% during the second quarter. Atlantic Union Bankshares Corp now owns 251,930 shares of the network equipment provider’s stock worth $11,969,000 after purchasing an additional 40,998 shares during the period. McAdam LLC increased its holdings in shares of Cisco Systems by 2.1% during the 2nd quarter. McAdam LLC now owns 12,015 shares of the network equipment provider’s stock worth $571,000 after buying an additional 243 shares during the last quarter. LRI Investments LLC raised its position in shares of Cisco Systems by 18.5% in the 2nd quarter. LRI Investments LLC now owns 10,042 shares of the network equipment provider’s stock worth $477,000 after buying an additional 1,570 shares during the period. Advisory Resource Group boosted its holdings in Cisco Systems by 13.5% in the second quarter. Advisory Resource Group now owns 95,934 shares of the network equipment provider’s stock valued at $4,558,000 after acquiring an additional 11,404 shares during the last quarter. Finally, Planned Solutions Inc. grew its position in Cisco Systems by 13.7% during the second quarter. Planned Solutions Inc. now owns 5,132 shares of the network equipment provider’s stock valued at $244,000 after acquiring an additional 620 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction 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 owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. The disclosure for this sale can be found here. Insiders sold a total of 98,274 shares of company stock worth $4,764,829 over the last 90 days. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their target price 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. Finally, BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $55.89.

Cisco Systems Stock Up 1.0 %

CSCO traded up $0.52 during trading on Friday, hitting $50.74. The company had a trading volume of 16,474,069 shares, compared to its average volume of 19,887,607. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The company has a market cap of $204.42 billion, a PE ratio of 17.08, a P/E/G ratio of 2.97 and a beta of 0.85. The business has a 50-day moving average of $47.20 and a 200-day moving average of $47.89.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

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

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.