Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by WestHill Financial Advisors Inc.

WestHill Financial Advisors Inc. grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,363 shares of the network equipment provider’s stock after purchasing an additional 308 shares during the period. WestHill Financial Advisors Inc.’s holdings in Cisco Systems were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Raymond James & Associates lifted its stake in Cisco Systems by 0.9% during the second quarter. Raymond James & Associates now owns 13,305,175 shares of the network equipment provider’s stock worth $632,129,000 after purchasing an additional 117,351 shares in the last quarter. Signet Investment Advisory Group Inc. increased its stake in Cisco Systems by 3.1% during the second quarter. Signet Investment Advisory Group Inc. now owns 75,205 shares of the network equipment provider’s stock worth $3,573,000 after purchasing an additional 2,260 shares during the period. Marietta Wealth Management LLC acquired a new position in shares of Cisco Systems in the second quarter valued at approximately $404,000. OFI Invest Asset Management increased its stake in Cisco Systems by 39,018.3% during the 2nd quarter. OFI Invest Asset Management now owns 278,522 shares of the network equipment provider’s stock worth $12,347,000 after buying an additional 277,810 shares during the period. Finally, Oakworth Capital Inc. lifted its holdings in Cisco Systems by 3.2% during the 2nd quarter. Oakworth Capital Inc. now owns 30,933 shares of the network equipment provider’s stock worth $1,470,000 after buying an additional 956 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CSCO shares. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday. Oppenheimer boosted their price objective on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research 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, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and an average price target of $55.89.

Insider Activity

In related news, SVP Maria Victoria Wong sold 3,378 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. In the last three months, insiders sold 33,090 shares of company stock worth $1,522,231. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.93 during mid-day trading on Friday, reaching $49.46. The stock had a trading volume of 27,424,886 shares, compared to its average volume of 19,935,170. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The business has a 50 day simple moving average of $46.74 and a 200 day simple moving average of $47.88. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $58.19. The firm has a market capitalization of $199.27 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. On average, analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.23%. Cisco Systems’s dividend payout ratio (DPR) 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.