Hollencrest Capital Management Boosts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Hollencrest Capital Management increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% during the 3rd quarter, Holdings Channel reports. The fund owned 7,651 shares of the network equipment provider’s stock after purchasing an additional 208 shares during the quarter. Hollencrest Capital Management’s holdings in Cisco Systems were worth $407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter worth approximately $25,000. Quarry LP increased its position in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC raised its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems during the 2nd quarter worth $36,000. Finally, Iron Horse Wealth Management LLC grew its stake in shares of Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after purchasing an additional 766 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 in the last three months. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CSCO has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price target 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. Jefferies Financial Group cut their target price 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. Evercore ISI upped their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Barclays cut their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Finally, Rosenblatt Securities upped their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Thirteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.74.

Cisco Systems Trading Down 0.0 %

NASDAQ:CSCO opened at $58.06 on Friday. 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 stock’s 50 day simple moving average is $53.30 and its 200-day simple moving average is $49.40. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.30. The firm has a market cap of $231.70 billion, a P/E ratio of 22.86, a PEG ratio of 4.63 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. Equities analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 62.99%.

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.