E&G Advisors LP Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

E&G Advisors LP decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,028 shares of the network equipment provider’s stock after selling 300 shares during the period. E&G Advisors LP’s holdings in Cisco Systems were worth $906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CSCO. RFG Advisory LLC raised its holdings in Cisco Systems by 2.4% in the 1st quarter. RFG Advisory LLC now owns 42,135 shares of the network equipment provider’s stock valued at $2,103,000 after buying an additional 990 shares during the period. International Assets Investment Management LLC raised its stake in shares of Cisco Systems by 15.6% in the 1st quarter. International Assets Investment Management LLC now owns 39,625 shares of the network equipment provider’s stock valued at $1,983,000 after acquiring an additional 5,359 shares during the period. RDA Financial Network lifted its holdings in shares of Cisco Systems by 8.5% in the 1st quarter. RDA Financial Network now owns 8,006 shares of the network equipment provider’s stock worth $400,000 after acquiring an additional 629 shares during the last quarter. Steph & Co. boosted its position in shares of Cisco Systems by 6.6% during the 1st quarter. Steph & Co. now owns 14,077 shares of the network equipment provider’s stock worth $703,000 after purchasing an additional 873 shares during the period. Finally, Baker Boyer National Bank increased its holdings in Cisco Systems by 2.6% in the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was 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 directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 0.6 %

CSCO opened at $56.76 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $56.87. The company has a market cap of $228.68 billion, a P/E ratio of 19.11, a PEG ratio of 4.22 and a beta of 0.83. The business’s 50-day simple moving average is $51.17 and its 200-day simple moving average is $48.60.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, equities research analysts expect 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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSCO. Piper Sandler restated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on shares of 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. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, 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. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.74.

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.