Bar Harbor Wealth Management Lowers Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Bar Harbor Wealth Management cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,885 shares of the network equipment provider’s stock after selling 2,196 shares during the quarter. Bar Harbor Wealth Management’s holdings in Cisco Systems were worth $4,730,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Cisco Systems by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after purchasing an additional 288,775 shares in the last quarter. Marcum Wealth LLC lifted its stake in shares of Cisco Systems by 4.0% in the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after acquiring an additional 943 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings 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. Inscription Capital LLC increased its holdings in Cisco Systems by 49.4% during the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock worth $2,300,000 after purchasing an additional 15,198 shares during the last quarter. Finally, Valmark Advisers Inc. boosted its stake in shares of Cisco Systems by 4.7% during the 2nd quarter. Valmark Advisers Inc. now owns 40,863 shares of the network equipment provider’s stock valued at $1,941,000 after buying an additional 1,820 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.0 %

NASDAQ:CSCO opened at $56.40 on Friday. 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 company has a market capitalization of $227.23 billion, a P/E ratio of 18.99, a P/E/G ratio of 4.22 and a beta of 0.83. The stock’s 50 day moving average price is $50.95 and its 200 day moving average price is $48.56. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $56.58.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $13.53 billion. During the same quarter in the previous year, the business earned $1.01 EPS. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, research analysts forecast 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. Investors 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 2.84%. Cisco Systems’s payout ratio is presently 53.87%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CSCO shares. JPMorgan Chase & Co. boosted their target price on shares of 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. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, August 15th. Barclays reduced their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.74.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’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 sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was 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 in the last quarter. 0.02% of the stock is currently owned by company insiders.

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.