Guinness Atkinson Asset Management Inc Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Guinness Atkinson Asset Management Inc reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.5% in the third quarter, Holdings Channel reports. The fund owned 18,573 shares of the network equipment provider’s stock after selling 668 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Cisco Systems were worth $988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of CSCO. Summit Securities Group LLC bought a new stake in shares of Cisco Systems during the second quarter valued at about $25,000. Quarry LP increased its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC increased its position in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Retirement Group LLC lifted its stake in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems during the second quarter valued at about $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems 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 sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Charles Robbins sold 27,143 shares of the company’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 directly owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last three months. 0.02% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on CSCO shares. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. Finally, New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $55.00.

Cisco Systems Stock Up 1.3 %

NASDAQ:CSCO traded up $0.71 during midday trading on Friday, reaching $54.25. 12,704,525 shares of the stock traded hands, compared to its average volume of 19,161,271. The stock has a market capitalization of $216.50 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. 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 business has a 50-day moving average of $50.14 and a two-hundred day moving average of $48.40. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $54.58.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for 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%. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company 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. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.95%. Cisco Systems’s payout ratio is 62.99%.

Cisco Systems Company 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.