Goelzer Investment Management Inc. Sells 41,987 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Goelzer Investment Management Inc. lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,287 shares of the network equipment provider’s stock after selling 41,987 shares during the period. Goelzer Investment Management Inc.’s holdings in Cisco Systems were worth $6,881,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after buying an additional 1,853,598 shares during the last quarter. Legal & General Group Plc lifted its position in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the last quarter. Wellington Management Group LLP boosted its stake in Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after acquiring an additional 3,314,330 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after purchasing an additional 4,843,146 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after purchasing an additional 6,054,748 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CSCO. JPMorgan Chase & Co. upped their target price on Cisco Systems from $53.00 to $55.00 and gave the company 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of 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 dropped their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.00.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This 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 through this hyperlink. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the company’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 of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 in the last quarter. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.32 on Friday, reaching $52.75. The company’s stock had a trading volume of 11,728,606 shares, compared to its average volume of 19,368,709. The stock has a 50-day moving average price of $49.58 and a 200-day moving average price of $48.28. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $54.58. The company has a market capitalization of $212.52 billion, a P/E ratio of 17.76, a PEG ratio of 4.11 and a beta of 0.83. 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 (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. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share. Analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders 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 yield of 3.03%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

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.