Frank Rimerman Advisors LLC Acquires 63,192 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Frank Rimerman Advisors LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7,246.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,064 shares of the network equipment provider’s stock after buying an additional 63,192 shares during the period. Frank Rimerman Advisors LLC’s holdings in Cisco Systems were worth $3,044,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Summit Securities Group LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at $25,000. Retirement Group LLC increased its holdings in Cisco Systems by 56.8% in the first 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 acquired a new position in Cisco Systems in the second quarter valued at about $36,000. Redmont Wealth Advisors LLC bought a new position in Cisco Systems during the first quarter worth about $41,000. Finally, Iron Horse Wealth Management LLC grew its position in shares of Cisco Systems by 617.7% during 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. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Up 1.0 %

Shares of NASDAQ:CSCO opened at $51.97 on Friday. The stock has a market capitalization of $209.38 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83. The company’s 50-day moving average price is $48.52 and its two-hundred day moving average price is $48.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $54.58.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The business 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%. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.08%. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction that occurred 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 directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Barclays dropped their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note 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, HSBC raised 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. One 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 stock. According to data from MarketBeat, the stock has a consensus 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.