Mowery & Schoenfeld Wealth Management LLC Sells 1,775 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Mowery & Schoenfeld Wealth Management LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 49.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,780 shares of the network equipment provider’s stock after selling 1,775 shares during the period. Mowery & Schoenfeld Wealth Management LLC’s holdings in Cisco Systems were worth $95,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the second quarter valued at approximately $25,000. Quarry LP lifted its holdings in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC grew its position in shares of Cisco Systems by 116.6% during 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 in the last quarter. Retirement Group LLC increased its stake in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems in the second quarter valued at about $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted 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. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. Finally, Rosenblatt Securities raised their price target 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. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.74.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of the firm’s 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 sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.28 on Thursday, reaching $56.00. 3,666,746 shares of the stock were exchanged, compared to its average volume of 19,057,861. The business has a 50 day moving average price of $51.85 and a two-hundred day moving average price of $48.77. The firm has a market capitalization of $225.61 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.06. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous 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 Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 2.86%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

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.