Biltmore Family Office LLC Purchases 507 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Biltmore Family Office LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,001 shares of the network equipment provider’s stock after purchasing an additional 507 shares during the period. Biltmore Family Office LLC’s holdings in Cisco Systems were worth $1,520,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Cisco Systems by 1,096.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares in the last quarter. Marcum Wealth LLC lifted its stake in Cisco Systems by 4.0% during the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after acquiring an additional 943 shares in the last quarter. Inscription Capital LLC lifted its stake in Cisco Systems by 49.4% during the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after acquiring an additional 15,198 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in Cisco Systems during the 4th quarter valued at $117,000. Finally, Valmark Advisers Inc. lifted its stake in Cisco Systems by 4.7% during the 2nd quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after acquiring an additional 1,820 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on CSCO shares. JPMorgan Chase & Co. raised their price objective on 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. Jefferies Financial Group lowered their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Oppenheimer lifted their target price on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $55.89.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 completion of the sale, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 of the company’s stock, valued at approximately $33,794,278.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,944 shares of company stock valued at $3,566,120. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Trading Up 0.2 %

Shares of CSCO opened at $48.79 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm has a market cap of $196.57 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 3.82 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $56.97. The business has a 50-day moving average of $47.90 and a 200 day moving average of $47.93.

Cisco Systems (NASDAQ:CSCO) last posted its 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 return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

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.