Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by Gateway Advisory LLC

Gateway Advisory LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,612 shares of the network equipment provider’s stock after acquiring an additional 514 shares during the quarter. Gateway Advisory LLC’s holdings in Cisco Systems were worth $409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CSCO. Summit Securities Group LLC bought a new position in Cisco Systems in the 2nd quarter valued at about $25,000. Retirement Group LLC lifted its stake in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $36,000. Redmont Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the first quarter valued at approximately $41,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Cisco Systems during the fourth quarter worth approximately $44,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 0.4 %

Shares of NASDAQ CSCO opened at $52.19 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $54.58. The business has a 50-day moving average price of $48.61 and a two-hundred day moving average price of $48.06. The firm has a market capitalization of $210.26 billion, a PE ratio of 17.57, a PEG ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. As a group, analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.07%. Cisco Systems’s dividend payout ratio is 53.87%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of research reports. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price 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 raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of “Hold” and a consensus target price of $55.00.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s 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 directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were 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 of the company’s stock, valued at $2,258,974.53. 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. 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.