Barrett & Company Inc. Sells 1,107 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Barrett & Company Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,365 shares of the network equipment provider’s stock after selling 1,107 shares during the period. Barrett & Company Inc.’s holdings in Cisco Systems were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CSCO. Miracle Mile Advisors LLC grew its position in shares of Cisco Systems by 8.3% in the first quarter. Miracle Mile Advisors LLC now owns 21,151 shares of the network equipment provider’s stock valued at $1,056,000 after purchasing an additional 1,620 shares during the last quarter. Congress Wealth Management LLC DE lifted its holdings in shares of Cisco Systems by 2.4% during the first quarter. Congress Wealth Management LLC DE now owns 250,143 shares of the network equipment provider’s stock worth $12,485,000 after buying an additional 5,972 shares in the last quarter. Tributary Capital Management LLC bought a new stake in shares of Cisco Systems in the first quarter valued at about $55,000. Eagle Capital Management LLC acquired a new position in shares of Cisco Systems in the first quarter valued at about $231,000. Finally, Allspring Global Investments Holdings LLC increased its position in Cisco Systems by 16.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,288,768 shares of the network equipment provider’s stock worth $64,322,000 after acquiring an additional 177,588 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Down 0.1 %

Shares of NASDAQ:CSCO traded down $0.07 during mid-day trading on Monday, reaching $55.67. 1,914,693 shares of the company’s stock were exchanged, compared to its average volume of 19,008,500. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. 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 capitalization of $224.28 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83. The business’s fifty day moving average price is $52.12 and its 200-day moving average price is $48.86.

Cisco Systems (NASDAQ:CSCO) last released 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. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. On average, research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.87%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Rosenblatt Securities increased their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Barclays dropped their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.74.

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.