Mitchell Mcleod Pugh & Williams Inc. Sells 9,570 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mitchell Mcleod Pugh & Williams Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 23.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 30,496 shares of the network equipment provider’s stock after selling 9,570 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Cisco Systems were worth $1,623,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Waypoint Capital Advisors LLC raised its holdings in shares of Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after acquiring an additional 182 shares in the last quarter. Andina Capital Management LLC increased its position in Cisco Systems by 3.6% during the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after purchasing an additional 182 shares during the period. Meridian Financial Partners LLC raised its holdings in shares of Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after purchasing an additional 185 shares in the last quarter. Gleason Group Inc. lifted its position in shares of Cisco Systems by 0.9% in the 3rd quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after purchasing an additional 193 shares during the period. Finally, Cassia Capital Partners LLC boosted its stake in shares of Cisco Systems by 1.5% during the third quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock valued at $696,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CSCO shares. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on 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. Citigroup upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Jefferies Financial Group decreased their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Barclays reduced their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Thirteen 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.74.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.02 during trading on Friday, hitting $58.06. 17,517,686 shares of the company’s stock were exchanged, compared to its average volume of 16,469,526. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $58.30. 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 stock has a market capitalization of $231.70 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 4.79 and a beta of 0.83. The business has a 50-day simple moving average of $53.30 and a 200-day simple moving average of $49.40.

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 business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the company earned $1.01 EPS. The business’s revenue was down 10.3% on a year-over-year basis. On average, research analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

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

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.