Cornerstone Capital Inc. Increases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cornerstone Capital Inc. lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 378,394 shares of the network equipment provider’s stock after acquiring an additional 6,563 shares during the period. Cisco Systems accounts for approximately 1.9% of Cornerstone Capital Inc.’s holdings, making the stock its 21st biggest holding. Cornerstone Capital Inc.’s holdings in Cisco Systems were worth $20,138,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Waypoint Capital Advisors LLC boosted its holdings in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after purchasing an additional 182 shares during the period. Andina Capital Management LLC raised its position in Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after purchasing an additional 182 shares in the last quarter. Meridian Financial Partners LLC boosted its stake in shares of Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after buying an additional 185 shares during the period. Gleason Group Inc. grew its position in shares of Cisco Systems by 0.9% during the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after buying an additional 193 shares in the last quarter. Finally, Cassia Capital Partners LLC increased its stake in shares of Cisco Systems by 1.5% during the third quarter. Cassia Capital Partners LLC now owns 13,083 shares of the network equipment provider’s stock worth $696,000 after buying an additional 195 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on Cisco Systems from $53.00 to $55.00 and gave the company 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. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Finally, Tigress Financial increased their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $56.74.

Cisco Systems Stock Performance

CSCO stock traded up $0.22 during trading on Tuesday, hitting $56.05. The company had a trading volume of 1,860,424 shares, compared to its average volume of 18,940,414. The firm has a 50-day moving average price of $52.73 and a 200-day moving average price of $49.16. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm has a market cap of $223.68 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 4.60 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is presently 62.99%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,529 shares of company stock worth $3,509,049. Company insiders own 0.01% of the company’s stock.

Cisco Systems 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.