Stonebridge Capital Management Inc. Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Stonebridge Capital Management Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,345 shares of the network equipment provider’s stock after selling 1,250 shares during the quarter. Cisco Systems accounts for approximately 1.9% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Stonebridge Capital Management Inc.’s holdings in Cisco Systems were worth $4,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the second quarter worth about $25,000. Quarry LP lifted its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the period. Retirement Group LLC lifted its holdings in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the second quarter worth about $36,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Cisco Systems during the first quarter worth about $41,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.5 %

Shares of CSCO opened at $52.51 on Tuesday. 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, Inc. has a one year low of $44.50 and a one year high of $54.58. The stock has a market capitalization 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 stock has a 50 day moving average price of $49.58 and a 200 day moving average price of $48.26.

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

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CSCO. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft boosted their price target on 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. boosted their price target on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a 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. Jefferies Financial Group decreased their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.00.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems 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 completion of the sale, the executive vice president now directly owns 165,580 shares in the company, valued at $8,181,307.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by corporate insiders.

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.