First City Capital Management Inc. Sells 2,626 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

First City Capital Management Inc. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,606 shares of the network equipment provider’s stock after selling 2,626 shares during the period. First City Capital Management Inc.’s holdings in Cisco Systems were worth $836,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CSCO. Gilbert & Cook Inc. raised its holdings in shares of Cisco Systems by 1.1% during the 4th quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after buying an additional 264 shares in the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of Cisco Systems by 104.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock valued at $1,177,000 after purchasing an additional 11,767 shares during the last quarter. ProVise Management Group LLC lifted its stake in Cisco Systems by 5.4% in the fourth quarter. ProVise Management Group LLC now owns 28,448 shares of the network equipment provider’s stock worth $1,437,000 after purchasing an additional 1,465 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings in shares of Cisco Systems by 3.1% in the fourth quarter. Congress Wealth Management LLC DE now owns 244,171 shares of the network equipment provider’s stock worth $12,336,000 after buying an additional 7,388 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in Cisco Systems by 2.1% during the 4th quarter. Westfield Capital Management Co. LP now owns 182,299 shares of the network equipment provider’s stock worth $9,210,000 after acquiring an additional 3,800 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.0 %

NASDAQ:CSCO opened at $51.97 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $54.58. The stock has a market cap of $209.38 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 3.87 and a beta of 0.83. The company’s 50 day moving average price is $48.52 and its 200-day moving average price is $48.05. 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 posted 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 analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders 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 dividend yield of 3.08%. Cisco Systems’s payout ratio is 53.87%.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the 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 directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 shares were 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 $33,794,278.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. 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 over the last quarter. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on Cisco Systems from $53.00 to $55.00 and gave the stock 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. Finally, Jefferies Financial Group decreased their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $56.11.

About Cisco Systems

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.