Kesler Norman & Wride LLC Sells 18,472 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Kesler Norman & Wride LLC lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 117,745 shares of the network equipment provider’s stock after selling 18,472 shares during the period. Cisco Systems comprises approximately 1.2% of Kesler Norman & Wride LLC’s holdings, making the stock its 24th largest position. Kesler Norman & Wride LLC’s holdings in Cisco Systems were worth $6,266,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CSCO. Versant Capital Management Inc boosted its holdings in shares of Cisco Systems by 16.6% during the 3rd quarter. Versant Capital Management Inc now owns 6,068 shares of the network equipment provider’s stock valued at $323,000 after purchasing an additional 864 shares during the last quarter. Greenfield Savings Bank boosted its holdings in shares of Cisco Systems by 3.3% during the 3rd quarter. Greenfield Savings Bank now owns 33,102 shares of the network equipment provider’s stock valued at $1,762,000 after purchasing an additional 1,062 shares during the last quarter. Heartwood Wealth Advisors LLC boosted its holdings in shares of Cisco Systems by 3.0% during the 3rd quarter. Heartwood Wealth Advisors LLC now owns 23,050 shares of the network equipment provider’s stock valued at $1,227,000 after purchasing an additional 665 shares during the last quarter. Atwood & Palmer Inc. boosted its holdings in shares of Cisco Systems by 0.8% during the 3rd quarter. Atwood & Palmer Inc. now owns 524,290 shares of the network equipment provider’s stock valued at $27,903,000 after purchasing an additional 4,002 shares during the last quarter. Finally, Green Alpha Advisors LLC lifted its holdings in shares of Cisco Systems by 4.4% in the 3rd quarter. Green Alpha Advisors LLC now owns 15,365 shares of the network equipment provider’s stock valued at $818,000 after acquiring an additional 641 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $52.51 on Tuesday. The firm has a market cap of $211.55 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 4.11 and a beta of 0.83. The company’s 50 day moving average is $49.58 and its 200 day moving average is $48.26. 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, Inc. has a 52-week low of $44.50 and a 52-week high of $54.58.

Cisco Systems (NASDAQ:CSCO) last issued 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. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates 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 last year, the company posted $1.01 earnings per share. On average, sell-side analysts anticipate 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. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.05%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. 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 is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSCO. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $55.00.

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.