Dumont & Blake Investment Advisors LLC Sells 34,467 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Dumont & Blake Investment Advisors LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 50.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,316 shares of the network equipment provider’s stock after selling 34,467 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Cisco Systems were worth $1,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter worth about $25,000. Quarry LP grew its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% in the third 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 during the period. Retirement Group LLC lifted its position in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Cisco Systems in the 2nd quarter valued at $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research note 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. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.74.

Cisco Systems Stock Performance

CSCO traded up $0.37 during trading hours on Friday, hitting $56.33. The company’s stock had a trading volume of 859,430 shares, compared to its average volume of 19,024,311. 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 firm has a market capitalization of $226.94 billion, a PE ratio of 18.84, a PEG ratio of 4.22 and a beta of 0.83. The company has a 50-day simple moving average of $51.85 and a 200 day simple moving average of $48.77. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results 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. 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 firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. Cisco Systems’s payout ratio is currently 53.87%.

Insiders Place Their Bets

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 directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now 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 filing with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The stock was 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 owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last quarter. Company insiders own 0.02% of the company’s stock.

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.