Birch Capital Management LLC Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Birch Capital Management LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,831 shares of the network equipment provider’s stock after selling 795 shares during the quarter. Cisco Systems makes up approximately 1.7% of Birch Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Birch Capital Management LLC’s holdings in Cisco Systems were worth $3,504,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Richwood Investment Advisors LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at about $256,000. Occidental Asset Management LLC grew its position in shares of Cisco Systems by 7.2% in the third quarter. Occidental Asset Management LLC now owns 18,340 shares of the network equipment provider’s stock valued at $976,000 after purchasing an additional 1,228 shares in the last quarter. Iams Wealth Management LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at approximately $1,161,000. Creative Planning lifted its position in Cisco Systems by 3.4% during the third quarter. Creative Planning now owns 1,155,964 shares of the network equipment provider’s stock worth $60,979,000 after buying an additional 38,000 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its stake in Cisco Systems by 2.5% during the third quarter. Wesbanco Bank Inc. now owns 394,968 shares of the network equipment provider’s stock worth $21,020,000 after buying an additional 9,547 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Down 0.3 %

CSCO stock traded down $0.18 during mid-day trading on Tuesday, reaching $54.09. The company had a trading volume of 5,126,937 shares, compared to its average volume of 19,051,096. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $54.61. The company has a market capitalization of $217.92 billion, a price-to-earnings ratio of 18.27, 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. The firm has a fifty day simple moving average of $50.33 and a 200 day simple moving average of $48.42.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (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 company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 53.87%.

Analysts Set New Price Targets

CSCO has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $58.00 in a research report on Friday, August 16th. 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. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $56.21.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction 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 sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This 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 valued at $3,509,049. 0.02% of the stock is currently 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.