Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by TCTC Holdings LLC

TCTC Holdings LLC grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 365,059 shares of the network equipment provider’s stock after buying an additional 8,826 shares during the quarter. TCTC Holdings LLC’s holdings in Cisco Systems were worth $19,428,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CSCO. Summit Securities Group LLC acquired a new stake in Cisco Systems during the second quarter worth about $25,000. Quarry LP increased its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC increased its position 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 worth $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems during the second quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC increased its position in Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after purchasing an additional 766 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at $8,181,307.80. This trade 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 firm’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 transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $58.06 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $58.30. 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 company has a 50 day moving average of $53.30 and a 200-day moving average of $49.40. The firm has a market cap of $231.70 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 4.63 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share 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 for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 62.99%.

Wall Street Analyst Weigh In

Several research analysts have weighed in 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 note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the stock 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. Finally, Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.