Moors & Cabot Inc. Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Moors & Cabot Inc. lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,183 shares of the network equipment provider’s stock after selling 1,615 shares during the quarter. Moors & Cabot Inc.’s holdings in Cisco Systems were worth $5,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Summit Securities Group LLC bought a new stake in Cisco Systems in the 2nd quarter worth $25,000. Retirement Group LLC grew its stake 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 worth $36,000 after purchasing an additional 263 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter valued at about $36,000. Tidemark LLC bought a new position in Cisco Systems during the 4th quarter valued at approximately $41,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Cisco Systems in the 1st quarter worth approximately $41,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Barclays reduced their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average price target of $55.89.

Cisco Systems Price Performance

CSCO opened at $51.03 on Tuesday. The firm has a market cap of $205.59 billion, a PE ratio of 17.18, a P/E/G ratio of 3.87 and a beta of 0.83. The stock has a 50-day moving average price of $48.15 and a 200-day moving average price of $47.98. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $56.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (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 business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,529 shares of company stock valued at $3,509,049. Corporate 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.