Cranbrook Wealth Management LLC Has $270,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Cranbrook Wealth Management LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 539.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,688 shares of the network equipment provider’s stock after purchasing an additional 4,798 shares during the period. Cranbrook Wealth Management LLC’s holdings in Cisco Systems were worth $270,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CSCO. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Cisco Systems by 1,096.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after buying an additional 2,663,676 shares during the period. Marcum Wealth LLC lifted its stake in Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after purchasing an additional 943 shares during the last quarter. Inscription Capital LLC boosted its holdings in shares of Cisco Systems by 49.4% in the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after purchasing an additional 15,198 shares in the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth $117,000. Finally, Valmark Advisers Inc. grew its position in Cisco Systems by 4.7% in the second quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after acquiring an additional 1,820 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last quarter. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CSCO. JPMorgan Chase & Co. lifted their price target 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. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Piper Sandler restated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Thursday, August 15th. 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 report on Thursday, August 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $55.89.

Cisco Systems Stock Performance

Shares of CSCO opened at $51.03 on Tuesday. The firm’s fifty day simple moving average is $48.15 and its two-hundred day simple moving average is $47.98. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $56.28. 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 stock has a market capitalization of $205.59 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83.

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, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.14%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

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.