Asset Planning Services Inc. LA ADV Increases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Asset Planning Services Inc. LA ADV raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,702 shares of the network equipment provider’s stock after purchasing an additional 4,075 shares during the period. Cisco Systems makes up approximately 2.8% of Asset Planning Services Inc. LA ADV’s holdings, making the stock its 19th largest holding. Asset Planning Services Inc. LA ADV’s holdings in Cisco Systems were worth $5,572,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Keene & Associates Inc. raised its stake in shares of Cisco Systems by 2.1% during the third quarter. Keene & Associates Inc. now owns 74,341 shares of the network equipment provider’s stock worth $3,956,000 after acquiring an additional 1,529 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Cisco Systems by 0.9% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 116,477 shares of the network equipment provider’s stock valued at $6,197,000 after purchasing an additional 991 shares during the last quarter. Romano Brothers AND Company lifted its stake in Cisco Systems by 3.0% in the third quarter. Romano Brothers AND Company now owns 156,623 shares of the network equipment provider’s stock worth $8,335,000 after purchasing an additional 4,512 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Cisco Systems by 6.6% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 8,578 shares of the network equipment provider’s stock valued at $456,000 after purchasing an additional 530 shares during the last quarter. Finally, Spectrum Asset Management Inc. NB CA increased its position in shares of Cisco Systems by 0.5% during the third quarter. Spectrum Asset Management Inc. NB CA now owns 64,170 shares of the network equipment provider’s stock valued at $3,415,000 after buying an additional 317 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CSCO. JPMorgan Chase & Co. upped their price objective 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. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Tigress Financial boosted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI increased their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $52.00 to $62.00 in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.74.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Down 0.0 %

NASDAQ CSCO opened at $56.26 on Thursday. Cisco Systems, Inc. has a one year low of $44.50 and a one year 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 company has a market capitalization of $226.66 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company’s 50-day simple moving average is $51.85 and its two-hundred day simple moving average is $48.77.

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, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were paid a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.84%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

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.