Cisco Systems, Inc. (NASDAQ:CSCO) is Sienna Gestion’s 10th Largest Position

Sienna Gestion boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 41.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 310,525 shares of the network equipment provider’s stock after purchasing an additional 90,610 shares during the period. Cisco Systems makes up about 1.3% of Sienna Gestion’s portfolio, making the stock its 10th biggest position. Sienna Gestion’s holdings in Cisco Systems were worth $14,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the second quarter worth about $25,000. Retirement Group LLC lifted its stake in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter valued at $36,000. Tidemark LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth $41,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the first quarter worth $41,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $50.57 on Thursday. The company has a fifty day simple moving average of $48.33 and a 200-day simple moving average of $48.01. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $203.74 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 3.87 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.21.

Cisco Systems (NASDAQ:CSCO) last announced 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 company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the company earned $1.01 EPS. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Jefferies Financial Group decreased their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped 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, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.89.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated 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 directly owns 46,017 shares in the company, valued at $2,258,974.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 in the last quarter. Company insiders own 0.02% of the company’s stock.

Cisco Systems Company 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.