Baker Tilly Wealth Management LLC Cuts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Baker Tilly Wealth Management LLC lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,768 shares of the network equipment provider’s stock after selling 5,203 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Cisco Systems were worth $573,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in Cisco Systems during the second quarter valued at about $25,000. Quarry LP raised its holdings in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC lifted its position in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Retirement Group LLC boosted 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 buying an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems during the second quarter valued at approximately $36,000. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was 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 in the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

CSCO opened at $55.93 on Monday. 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 market cap of $225.33 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The stock has a fifty day simple moving average of $52.12 and a two-hundred day simple moving average of $48.86. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $57.06.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. Research analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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 $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.86%. Cisco Systems’s payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CSCO shares. Rosenblatt Securities increased their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Evercore ISI boosted 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. JPMorgan Chase & Co. raised their price target on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research 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. Barclays lowered their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.