Advisors Management Group Inc. ADV Boosts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Advisors Management Group Inc. ADV increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 129,217 shares of the network equipment provider’s stock after buying an additional 583 shares during the period. Cisco Systems comprises 1.6% of Advisors Management Group Inc. ADV’s holdings, making the stock its 19th largest position. Advisors Management Group Inc. ADV’s holdings in Cisco Systems were worth $6,877,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. lifted its stake in shares of Cisco Systems by 226.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after buying an additional 18,339 shares in the last quarter. VitalStone Financial LLC increased its stake in Cisco Systems by 84.4% in the 1st quarter. VitalStone Financial LLC now owns 1,593 shares of the network equipment provider’s stock worth $79,000 after acquiring an additional 729 shares during the last quarter. Empirical Finance LLC raised its stake in Cisco Systems by 3.4% during the first quarter. Empirical Finance LLC now owns 149,733 shares of the network equipment provider’s stock valued at $7,473,000 after purchasing an additional 4,913 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Cisco Systems by 13.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 585,815 shares of the network equipment provider’s stock valued at $29,238,000 after buying an additional 69,208 shares in the last quarter. Finally, Stokes Family Office LLC lifted its stake in shares of Cisco Systems by 6.7% in the 1st quarter. Stokes Family Office LLC now owns 53,018 shares of the network equipment provider’s stock valued at $2,646,000 after purchasing an additional 3,328 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CSCO shares. Jefferies Financial Group dropped their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note 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 upped their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, August 15th. Finally, Rosenblatt Securities raised their target price on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.74.

Cisco Systems Price Performance

Shares of CSCO opened at $57.87 on Thursday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $58.08. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $230.94 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 4.60 and a beta of 0.83. The firm’s fifty day simple moving average is $53.00 and its 200-day simple moving average is $49.27.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. Equities analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid 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 yield of 2.76%. Cisco Systems’s dividend payout ratio is currently 62.99%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cisco Systems 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 transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 over the last ninety days. Insiders own 0.01% of the company’s stock.

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.