Lmcg Investments LLC Has $7.04 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Lmcg Investments LLC cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 39.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 148,268 shares of the network equipment provider’s stock after selling 96,013 shares during the quarter. Lmcg Investments LLC’s holdings in Cisco Systems were worth $7,044,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI raised its position in Cisco Systems by 24.4% in the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after purchasing an additional 51,924 shares during the last quarter. One Capital Management LLC raised its position in Cisco Systems by 18.7% in the second quarter. One Capital Management LLC now owns 179,844 shares of the network equipment provider’s stock valued at $8,544,000 after purchasing an additional 28,284 shares during the last quarter. Sierra Summit Advisors LLC raised its position in Cisco Systems by 7.3% in the second quarter. Sierra Summit Advisors LLC now owns 22,721 shares of the network equipment provider’s stock valued at $1,079,000 after purchasing an additional 1,541 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after purchasing an additional 4,843,146 shares during the last quarter. Finally, Keene & Associates Inc. raised its position in Cisco Systems by 2.3% in the second quarter. Keene & Associates Inc. now owns 72,812 shares of the network equipment provider’s stock valued at $3,459,000 after purchasing an additional 1,629 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the subject of several research reports. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Barclays lowered their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group lowered their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective 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. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued 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 target price of $55.89.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, 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 transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 over the last 90 days. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 2.5 %

Shares of Cisco Systems stock opened at $51.03 on Tuesday. 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, Inc. has a 52 week low of $44.50 and a 52 week high of $56.28. The stock has a 50 day moving average price of $48.15 and a two-hundred day moving average price of $47.98. The stock has a market capitalization of $205.59 billion, a PE 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, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.14%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Cisco Systems 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.