Gateway Wealth Partners LLC Increases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Gateway Wealth Partners LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 5,576 shares of the network equipment provider’s stock after acquiring an additional 698 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Cisco Systems were worth $265,000 at the end of the most recent reporting period.

Other large investors have also 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. Quarry LP raised its position in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the last quarter. Retirement Group LLC raised its position in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Cisco Systems during the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

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 transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Cisco Systems stock opened at $53.22 on Tuesday. The company’s fifty day moving average price is $49.14 and its 200 day moving average price is $48.16. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a market capitalization of $214.41 billion, a P/E ratio of 17.92, a P/E/G ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.58.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.01%. Cisco Systems’s payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CSCO shares. Jefferies Financial Group reduced their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target 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. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating 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 equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.