Gateway Advisory LLC Increases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Gateway Advisory LLC boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,612 shares of the network equipment provider’s stock after buying an additional 514 shares during the period. Gateway Advisory LLC’s holdings in Cisco Systems were worth $409,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in Cisco Systems in the second quarter valued at approximately $25,000. Retirement Group LLC boosted its holdings 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 valued at $36,000 after purchasing an additional 263 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems during the 2nd quarter valued at $36,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the 1st quarter worth $41,000. Finally, Iron Horse Wealth Management LLC raised its position in shares of Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $52.19 on Tuesday. The stock has a market capitalization of $210.26 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 3.87 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $54.58. The company’s 50-day simple moving average is $48.61 and its 200-day simple moving average is $48.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

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

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Evercore ISI boosted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group cut their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Barclays decreased their price objective 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. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Finally, New Street Research upgraded 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. One 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, the stock has a consensus rating of “Hold” and a consensus target price of $55.00.

Insider Activity at Cisco Systems

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 shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 in the last quarter. 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.