Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,308 shares of the network equipment provider’s stock after selling 321 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Cisco Systems were worth $549,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems during the second quarter worth approximately $25,000. Quarry LP raised its stake in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares in the last quarter. Retirement Group LLC lifted its position in shares of Cisco Systems by 56.8% during 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 in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the 2nd quarter valued at about $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on CSCO. Evercore ISI raised their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. JPMorgan Chase & Co. raised 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. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Jefferies Financial Group cut their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.00.

Cisco Systems Price Performance

NASDAQ:CSCO traded up $0.71 during trading hours on Friday, reaching $54.25. 12,704,525 shares of the company’s stock were exchanged, compared to its average volume of 19,161,271. The company has a market capitalization of $216.50 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $54.58. The business’s 50-day simple moving average is $50.14 and its two-hundred day simple moving average is $48.40. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43.

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 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 business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the firm posted $1.01 EPS. The company’s quarterly revenue was down 10.3% on a year-over-year basis. Sell-side analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 62.99%.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last 90 days. 0.02% of the stock is owned by company 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.