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

Pointe Capital Management LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,326 shares of the network equipment provider’s stock after buying an additional 701 shares during the period. Pointe Capital Management LLC’s holdings in Cisco Systems were worth $1,029,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CSCO. Cornerstone Wealth Group LLC increased its position in Cisco Systems by 47.9% during the 1st quarter. Cornerstone Wealth Group LLC now owns 7,579 shares of the network equipment provider’s stock worth $378,000 after purchasing an additional 2,455 shares during the period. Citizens Business Bank grew its holdings in Cisco Systems by 0.6% during the first quarter. Citizens Business Bank now owns 48,751 shares of the network equipment provider’s stock worth $2,433,000 after acquiring an additional 279 shares during the period. Roberts Wealth Advisors LLC lifted its holdings in Cisco Systems by 0.6% in the first quarter. Roberts Wealth Advisors LLC now owns 79,439 shares of the network equipment provider’s stock valued at $3,832,000 after acquiring an additional 511 shares during the period. Aviance Capital Partners LLC boosted its position in shares of Cisco Systems by 8.4% during the 1st quarter. Aviance Capital Partners LLC now owns 83,291 shares of the network equipment provider’s stock worth $4,157,000 after purchasing an additional 6,454 shares in the last quarter. Finally, Wolff Wiese Magana LLC grew its stake in shares of Cisco Systems by 7.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 42,491 shares of the network equipment provider’s stock worth $2,121,000 after purchasing an additional 2,883 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Evercore ISI upped their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Barclays dropped their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company 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. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.74.

Cisco Systems Trading Down 0.4 %

CSCO traded down $0.22 during midday trading on Friday, hitting $55.74. The company’s stock had a trading volume of 14,680,466 shares, compared to its average volume of 19,091,068. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.06. The firm has a 50-day moving average price of $52.12 and a two-hundred day moving average price of $48.86. 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 cap of $224.57 billion, a P/E ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. 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 is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction dated 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 directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

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.