SkyOak Wealth LLC Has $720,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

SkyOak Wealth LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,157 shares of the network equipment provider’s stock after selling 1,201 shares during the period. SkyOak Wealth LLC’s holdings in Cisco Systems were worth $720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in Cisco Systems by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after purchasing an additional 1,853,598 shares during the period. Wellington Management Group LLP raised its stake in shares of Cisco Systems by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after buying an additional 3,314,330 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 valued at $1,254,739,000 after buying an additional 4,843,146 shares during the period. First Trust Advisors LP boosted its stake in Cisco Systems by 12.3% in the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after acquiring an additional 2,723,260 shares during the last quarter. Finally, FIL Ltd grew its holdings in Cisco Systems by 47.1% during the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after acquiring an additional 6,054,748 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the company’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 value of $1,342,221.35. Following 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 hyperlink. In other Cisco Systems news, 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 transaction of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the 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 transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last ninety days. 0.02% of the stock is owned by insiders.

Analysts Set New Price Targets

CSCO has been the subject of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on shares of 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. 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 report on Thursday, August 15th. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.89.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $50.61 on Wednesday. The firm has a market capitalization of $203.90 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 3.87 and a beta of 0.83. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $48.25 and its 200-day moving average price is $47.99. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $56.28.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm 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 revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. Equities research analysts forecast 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. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.16%. Cisco Systems’s payout ratio is 53.87%.

Cisco Systems Company 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.