Hennion & Walsh Asset Management Inc. Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Hennion & Walsh Asset Management Inc. raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,477 shares of the network equipment provider’s stock after buying an additional 991 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Cisco Systems were worth $6,197,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Romano Brothers AND Company boosted its position in shares of Cisco Systems by 3.0% during the 3rd quarter. Romano Brothers AND Company now owns 156,623 shares of the network equipment provider’s stock valued at $8,335,000 after acquiring an additional 4,512 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its stake in Cisco Systems by 6.6% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 8,578 shares of the network equipment provider’s stock valued at $456,000 after purchasing an additional 530 shares in the last quarter. Spectrum Asset Management Inc. NB CA lifted its position in Cisco Systems by 0.5% during the third quarter. Spectrum Asset Management Inc. NB CA now owns 64,170 shares of the network equipment provider’s stock valued at $3,415,000 after purchasing an additional 317 shares during the last quarter. International Assets Investment Management LLC grew its stake in Cisco Systems by 4,524.9% in the 3rd quarter. International Assets Investment Management LLC now owns 2,087,369 shares of the network equipment provider’s stock worth $1,110,900,000 after buying an additional 2,042,236 shares in the last quarter. Finally, McAdam LLC increased its holdings in shares of Cisco Systems by 8.4% in the 3rd quarter. McAdam LLC now owns 13,023 shares of the network equipment provider’s stock worth $693,000 after buying an additional 1,008 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Citigroup raised 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 report on Wednesday, October 16th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Price Performance

Shares of CSCO opened at $56.28 on Thursday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06. The firm’s 50-day simple moving average is $51.85 and its two-hundred day simple moving average is $48.77. The stock has a market cap of $226.74 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company 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 firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 EPS. Analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems 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 approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. 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. 0.02% of the stock is owned by corporate insiders.

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.