Dudley Capital Management LLC Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Dudley Capital Management LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,023 shares of the network equipment provider’s stock after selling 4,332 shares during the period. Cisco Systems comprises about 1.3% of Dudley Capital Management LLC’s investment portfolio, making the stock its 19th largest position. Dudley Capital Management LLC’s holdings in Cisco Systems were worth $2,503,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CSCO. Portside Wealth Group LLC boosted its position in Cisco Systems by 11.1% during the third quarter. Portside Wealth Group LLC now owns 89,637 shares of the network equipment provider’s stock worth $4,771,000 after acquiring an additional 8,967 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of Cisco Systems during the third quarter worth $125,000. Montecito Bank & Trust grew its position in shares of Cisco Systems by 18.8% in the third quarter. Montecito Bank & Trust now owns 38,999 shares of the network equipment provider’s stock valued at $2,076,000 after purchasing an additional 6,174 shares during the period. Vickerman Investment Advisors Inc. grew its position in shares of Cisco Systems by 1.5% in the third quarter. Vickerman Investment Advisors Inc. now owns 60,946 shares of the network equipment provider’s stock valued at $3,244,000 after purchasing an additional 929 shares during the period. Finally, Jackson Square Capital LLC increased its stake in Cisco Systems by 145.5% in the third quarter. Jackson Square Capital LLC now owns 23,380 shares of the network equipment provider’s stock valued at $1,244,000 after purchasing an additional 13,855 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. 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 research note on Thursday, August 15th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on Cisco Systems from $53.00 to $55.00 and gave the company 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. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Stock Performance

Cisco Systems stock opened at $58.08 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm’s fifty day moving average price is $53.00 and its 200 day moving average price is $49.27. The company has a market capitalization of $231.78 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.30.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s revenue was down 10.3% compared to the same quarter last year. On average, research 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 $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.75%. Cisco Systems’s dividend payout ratio (DPR) is presently 62.99%.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the 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 transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

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.