Deseret Mutual Benefit Administrators Buys 584 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Deseret Mutual Benefit Administrators grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,448 shares of the network equipment provider’s stock after purchasing an additional 584 shares during the quarter. Cisco Systems comprises approximately 0.8% of Deseret Mutual Benefit Administrators’ investment portfolio, making the stock its 15th largest position. Deseret Mutual Benefit Administrators’ holdings in Cisco Systems were worth $1,827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its position in shares of Cisco Systems by 0.3% during the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after purchasing an additional 202 shares in the last quarter. Baker Boyer National Bank grew its stake in shares of Cisco Systems by 2.6% in the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after acquiring an additional 210 shares during the period. Holland Advisory Services Inc. grew its position in Cisco Systems by 5.3% in the 1st quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after purchasing an additional 213 shares during the period. WealthPLAN Partners LLC increased its position in Cisco Systems by 3.0% during the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock valued at $369,000 after acquiring an additional 213 shares during the last quarter. Finally, Ruedi Wealth Management Inc. increased its position in shares of Cisco Systems by 17.6% during the 1st quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock valued at $73,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,944 shares of company stock valued at $3,566,120. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

Shares of NASDAQ CSCO traded down $0.14 during mid-day trading on Thursday, hitting $49.56. 2,261,170 shares of the company’s stock traded hands, compared to its average volume of 19,551,057. The company has a market capitalization of $199.67 billion, a P/E ratio of 16.73, a PEG ratio of 3.98 and a beta of 0.85. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $57.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The company’s 50-day moving average is $47.79 and its two-hundred day moving average is $47.93.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $1.01 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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 given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Jefferies Financial Group lowered their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their target price on 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. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average target price of $55.89.

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.