Calton & Associates Inc. Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Calton & Associates Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,740 shares of the network equipment provider’s stock after selling 631 shares during the quarter. Calton & Associates Inc.’s holdings in Cisco Systems were worth $518,000 as of its most recent SEC filing.

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

Cisco Systems Stock Performance

Shares of CSCO traded down $0.39 during trading hours on Tuesday, hitting $56.20. The stock had a trading volume of 1,063,332 shares, compared to its average volume of 19,067,928. The firm has a market capitalization of $226.42 billion, a price-to-earnings ratio of 19.05, a PEG 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 firm has a 50-day moving average price of $51.41 and a 200 day moving average price of $48.66. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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 company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.85%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CSCO. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of 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. Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Jefferies Financial Group cut their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, 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. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.74.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last quarter. 0.02% of the stock is currently owned by insiders.

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.